Ballentine Partners LLC Purchases New Stake in GoDaddy Inc. $GDDY

Key Points

• Ballentine Partners LLC has acquired a new stake in GoDaddy Inc., purchasing 2,973 shares valued at approximately $535,000 during the second quarter.
• Insiders, including the CAO and CFO, have recently sold shares of GoDaddy stock, with total insider sales reaching $5.39 million over the past 90 days.
• Analysts have lowered their price targets for GoDaddy, with Barclays setting a new target of $200.00, while the stock has an average target price of $202.43 and a consensus rating of "Moderate Buy."

Ballentine Partners LLC purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,973 shares of the technology company's stock, valued at approximately $535,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GDDY. Cornerstone Planning Group LLC raised its holdings in GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after buying an additional 79 shares during the last quarter. Park Square Financial Group LLC bought a new stake in GoDaddy during the 1st quarter valued at $27,000. Private Trust Co. NA raised its holdings in GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after buying an additional 136 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in GoDaddy during the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA bought a new stake in GoDaddy during the 1st quarter valued at $36,000. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Phontip Palitwanon sold 777 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total value of $110,497.17. Following the completion of the transaction, the chief accounting officer directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 3,326 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $472,990.46. Following the sale, the chief financial officer directly owned 70,133 shares in the company, valued at $9,973,613.93. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,828 shares of company stock worth $5,394,638 over the last 90 days. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

GDDY has been the subject of a number of recent analyst reports. Barclays lowered their price target on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Citigroup decreased their price objective on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a report on Friday, August 8th. Raymond James Financial decreased their price objective 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. Royal Bank Of Canada decreased their price objective on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Finally, Piper Sandler set a $182.00 price objective on shares of GoDaddy and gave the stock an "overweight" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $202.43.

GoDaddy Stock Up 0.1%

Shares of GoDaddy stock opened at $141.31 on Friday. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.64 and a quick ratio of 0.64. The company has a 50-day moving average of $149.53 and a 200 day moving average of $168.32. The firm has a market cap of $19.56 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 1.53 and a beta of 1.02. GoDaddy Inc. has a 1 year low of $132.51 and a 1 year high of $216.00.

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

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