Adage Capital Partners GP L.L.C. Trims Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in GoDaddy Inc. by 1.8%, holding 128,900 shares worth approximately $23.22 million after selling 2,300 shares in the first quarter.
• Multiple institutional investors increased their stakes in GoDaddy, with Maverick Capital Ltd. up by 107.9%, now owning 3,994 shares valued at $719,000.
• GoDaddy's quarterly earnings report revealed $1.41 EPS, exceeding expectations, with revenue of $1.22 billion, showing an 8.3% increase compared to the previous year.

Adage Capital Partners GP L.L.C. decreased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 1.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,900 shares of the technology company's stock after selling 2,300 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.09% of GoDaddy worth $23,220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. HighPoint Advisor Group LLC grew its stake in GoDaddy by 15.9% during the 1st quarter. HighPoint Advisor Group LLC now owns 2,134 shares of the technology company's stock worth $402,000 after purchasing an additional 293 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of GoDaddy in the 1st quarter worth approximately $291,000. DAVENPORT & Co LLC grew its holdings in GoDaddy by 7.7% during the 1st quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company's stock valued at $354,000 after buying an additional 141 shares during the last quarter. Optimist Retirement Group LLC boosted its holdings in shares of GoDaddy by 5.8% during the first quarter. Optimist Retirement Group LLC now owns 1,522 shares of the technology company's stock worth $274,000 after purchasing an additional 84 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in GoDaddy by 13.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the technology company's stock valued at $1,060,000 after purchasing an additional 699 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 6,950 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total transaction of $988,359.50. Following the transaction, the chief executive officer owned 412,065 shares in the company, valued at approximately $58,599,763.65. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leah Sweet sold 650 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $141.14, for a total value of $91,741.00. Following the completion of the sale, the director directly owned 12,064 shares of the company's stock, valued at approximately $1,702,712.96. This represents a 5.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,828 shares of company stock worth $4,524,888 over the last ninety days. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

GDDY has been the subject of a number of research reports. Piper Sandler set a $182.00 target price on GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Raymond James Financial decreased their price target on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada reduced their price objective on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Wells Fargo & Company dropped their price objective on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $202.43.

GoDaddy Stock Performance

Shares of GDDY traded down $2.65 during trading hours on Wednesday, hitting $146.24. The company's stock had a trading volume of 321,189 shares, compared to its average volume of 1,581,918. The business has a 50 day simple moving average of $156.75 and a two-hundred day simple moving average of $171.04. 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 52-week low of $132.51 and a 52-week high of $216.00. The company has a market cap of $20.25 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.60 and a beta of 1.02.

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

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.