Goodnow Investment Group LLC Sells 4,270 Shares of GoDaddy Inc. $GDDY

Goodnow Investment Group LLC reduced its position in shares of GoDaddy Inc. (NYSE:GDDY) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 696,614 shares of the technology company’s stock after selling 4,270 shares during the period. GoDaddy comprises 11.7% of Goodnow Investment Group LLC’s investment portfolio, making the stock its 2nd largest holding. Goodnow Investment Group LLC’s holdings in GoDaddy were worth $125,432,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GDDY. CX Institutional grew its holdings in GoDaddy by 13.1% during the 2nd quarter. CX Institutional now owns 577 shares of the technology company’s stock worth $104,000 after acquiring an additional 67 shares during the last quarter. MAI Capital Management lifted its holdings in shares of GoDaddy by 8.7% during the first quarter. MAI Capital Management now owns 1,027 shares of the technology company’s stock worth $185,000 after purchasing an additional 82 shares during the period. UMB Bank n.a. grew its stake in shares of GoDaddy by 13.1% in the second quarter. UMB Bank n.a. now owns 795 shares of the technology company’s stock worth $143,000 after purchasing an additional 92 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of GoDaddy by 14.0% in the second quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock worth $134,000 after purchasing an additional 92 shares during the last quarter. Finally, NewSquare Capital LLC increased its holdings in GoDaddy by 170.9% in the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after purchasing an additional 94 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insider Activity

In other GoDaddy news, CAO Phontip Palitwanon sold 2,397 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the sale, the chief accounting officer directly owned 17,055 shares of the company’s stock, valued at $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the sale, the chief executive officer owned 399,133 shares in the company, valued at approximately $51,065,076.02. The trade was a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,615 shares of company stock worth $2,023,652. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GDDY. Morgan Stanley set a $159.00 target price on GoDaddy in a report on Friday, October 31st. UBS Group cut their price objective on GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Benchmark reissued a “buy” rating on shares of GoDaddy in a research report on Thursday, December 4th. JPMorgan Chase & Co. dropped their price target on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Finally, Citigroup reduced their price objective on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $181.14.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $124.78 on Friday. GoDaddy Inc. has a 52 week low of $121.94 and a 52 week high of $216.00. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06. The business has a 50 day moving average price of $129.90 and a 200-day moving average price of $149.62. The company has a market cap of $16.86 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the company earned $1.32 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.