MQS Management LLC Takes $300,000 Position in GoDaddy Inc. (NYSE:GDDY)

MQS Management LLC bought a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,668 shares of the technology company's stock, valued at approximately $300,000.

Several other hedge funds have also modified their holdings of GDDY. Advisors Capital Management LLC grew its position in shares of GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after buying an additional 55 shares during the last quarter. BNP Paribas boosted its stake in GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock valued at $417,000 after acquiring an additional 59 shares in the last quarter. City Holding Co. boosted its stake in GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after acquiring an additional 60 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in GoDaddy by 0.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock worth $1,435,000 after purchasing an additional 67 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its position in shares of GoDaddy by 4.1% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company's stock worth $344,000 after purchasing an additional 71 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Phontip Palitwanon sold 2,173 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total transaction of $386,511.51. Following the completion of the transaction, the chief accounting officer directly owned 21,198 shares of the company's stock, valued at $3,770,488.26. The trade was a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $175.96, for a total transaction of $175,960.00. Following the completion of the transaction, the chief operating officer owned 254,949 shares of the company's stock, valued at approximately $44,860,826.04. This represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,757 shares of company stock valued at $12,074,330 over the last 90 days. Company insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

Shares of GDDY stock traded up $0.22 during trading hours on Wednesday, hitting $168.15. The company's stock had a trading volume of 1,811,227 shares, compared to its average volume of 1,341,316. The stock has a market cap of $23.96 billion, a PE ratio of 32.34 and a beta of 1.05. GoDaddy Inc. has a 12-month low of $140.11 and a 12-month high of $216.00. The company has a 50 day moving average of $179.54 and a 200 day moving average of $184.22. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. GoDaddy's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.76 earnings per share. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GDDY. Piper Sandler raised their price objective on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Barclays cut their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Finally, Citigroup dropped their target price on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and an average price target of $214.86.

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.