GoDaddy Inc. $GDDY Shares Acquired by Abacus FCF Advisors LLC

Key Points

• Abacus FCF Advisors LLC increased its stake in GoDaddy Inc. by 30.1%, now holding approximately $13.40 million worth of the company's stock.
• The company's recent earnings report showed a profit of $1.41 EPS, exceeding expectations, and a revenue of $1.22 billion, reflecting an 8.3% year-over-year increase.
• GoDaddy stock has faced downward pressure, currently trading at $144.93 after a 1.0% decline recently.

Abacus FCF Advisors LLC raised its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 30.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,406 shares of the technology company's stock after purchasing an additional 17,231 shares during the quarter. GoDaddy comprises 1.9% of Abacus FCF Advisors LLC's portfolio, making the stock its 29th largest holding. Abacus FCF Advisors LLC owned about 0.05% of GoDaddy worth $13,398,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Cornerstone Planning Group LLC boosted its holdings in shares of GoDaddy by 123.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Park Square Financial Group LLC acquired a new position in GoDaddy in the first quarter valued at $27,000. Private Trust Co. NA grew its position in GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in GoDaddy in the 1st quarter worth approximately $30,000. Finally, Banque Transatlantique SA purchased a new position in GoDaddy in the 1st quarter worth $36,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Raymond James Financial lowered their target price on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. Citigroup dropped their target price on GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Piper Sandler set a $182.00 target price on GoDaddy and gave the stock an "overweight" rating in a report on Friday, August 8th. Wells Fargo & Company lowered their price objective on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Finally, Barclays reduced their target price on GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

GoDaddy Stock Down 1.0%

GDDY traded down $1.43 during trading hours on Friday, reaching $144.93. 3,507,130 shares of the stock traded hands, compared to its average volume of 1,500,757. The firm's fifty day simple moving average is $152.05 and its two-hundred day simple moving average is $169.30. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.56 and a beta of 1.02. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.64 and a quick ratio of 0.64. GoDaddy Inc. has a fifty-two week low of $132.51 and a fifty-two week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The business's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, CAO Phontip Palitwanon sold 777 shares of GoDaddy stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total value of $110,497.17. Following the transaction, the chief accounting officer owned 20,421 shares in the company, valued at $2,904,070.41. This trade represents a 3.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $150.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief executive officer directly owned 406,065 shares of the company's stock, valued at $60,909,750. This represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,828 shares of company stock valued at $5,394,638 in the last ninety days. Company insiders own 0.70% of the company's stock.

GoDaddy 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.