Distillate Capital Partners LLC Increases Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Distillate Capital Partners LLC increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 83,689.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 107,250 shares of the technology company's stock after acquiring an additional 107,122 shares during the quarter. Distillate Capital Partners LLC owned approximately 0.08% of GoDaddy worth $14,984,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in GoDaddy in the 4th quarter worth about $28,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy during the second quarter worth about $28,000. GAMMA Investing LLC increased its position in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company's stock worth $31,000 after purchasing an additional 133 shares during the last quarter. ORG Partners LLC purchased a new stake in GoDaddy in the second quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC bought a new stake in GoDaddy during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GDDY. Royal Bank of Canada raised their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Piper Sandler reiterated a "neutral" rating and set a $172.00 price objective (up from $160.00) on shares of GoDaddy in a research report on Monday. Benchmark raised their price objective on GoDaddy from $170.00 to $186.00 and gave the company a "buy" rating in a report on Monday, August 26th. Robert W. Baird upped their target price on GoDaddy from $175.00 to $190.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Finally, StockNews.com downgraded shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, GoDaddy presently has an average rating of "Moderate Buy" and an average target price of $165.00.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the transaction, the chief executive officer now owns 358,773 shares of the company's stock, valued at $59,882,801.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now directly owns 101,286 shares of the company's stock, valued at $16,686,868.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the sale, the chief executive officer now directly owns 358,773 shares in the company, valued at $59,882,801.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,744 shares of company stock worth $4,816,386. Company insiders own 0.61% of the company's stock.

GoDaddy Trading Down 0.5 %

Shares of GDDY traded down $0.75 during mid-day trading on Tuesday, hitting $157.78. 808,412 shares of the company's stock traded hands, compared to its average volume of 1,548,457. The business's 50-day moving average price is $154.79 and its 200-day moving average price is $139.74. GoDaddy Inc. has a 1 year low of $71.15 and a 1 year high of $167.65. The firm has a market capitalization of $22.51 billion, a P/E ratio of 13.10 and a beta of 1.13. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The company's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts forecast that GoDaddy Inc. will post 5.06 EPS for the current fiscal year.

About GoDaddy

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.