Entropy Technologies LP Has $5.46 Million Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• Entropy Technologies LP boosted its GoDaddy stake by 382.7% in the fourth quarter, ending with 43,995 shares valued at about $5.46 million.
• GoDaddy reported better-than-expected quarterly results, with EPS of $1.60 versus estimates of $1.53 and revenue of $1.27 billion, up 6.1% year over year.
• Analysts remain cautiously positive on the stock, with a Moderate Buy consensus and an average price target of $120.57, while recent insider sales included transactions by the CFO and CAO.

Entropy Technologies LP increased its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 382.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,995 shares of the technology company's stock after acquiring an additional 34,880 shares during the quarter. Entropy Technologies LP's holdings in GoDaddy were worth $5,459,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Coldstream Capital Management Inc. lifted its stake in shares of GoDaddy by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company's stock valued at $258,000 after acquiring an additional 86 shares during the period. Clearstead Advisors LLC lifted its stake in shares of GoDaddy by 0.9% during the third quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company's stock valued at $1,686,000 after acquiring an additional 104 shares during the period. Main Street Financial Solutions LLC lifted its stake in shares of GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company's stock valued at $2,185,000 after acquiring an additional 119 shares during the period. Lido Advisors LLC lifted its stake in shares of GoDaddy by 6.2% during the fourth quarter. Lido Advisors LLC now owns 2,083 shares of the technology company's stock valued at $283,000 after acquiring an additional 121 shares during the period. Finally, Martin Capital Advisors LLP lifted its stake in shares of GoDaddy by 1.5% during the fourth quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company's stock valued at $1,127,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Up 1.4%

NYSE:GDDY opened at $76.24 on Friday. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $10.10 billion, a PE ratio of 12.06, a PEG ratio of 0.69 and a beta of 0.90. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $181.49. The stock has a 50-day simple moving average of $85.45 and a 200 day simple moving average of $97.98.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.07. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.GoDaddy's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.51 earnings per share. On average, sell-side analysts expect that GoDaddy Inc. will post 7.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GDDY. Evercore set a $95.00 price target on GoDaddy in a research note on Wednesday, February 25th. Wells Fargo & Company upped their price target on GoDaddy from $77.00 to $83.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. UBS Group assumed coverage on GoDaddy in a report on Tuesday, May 5th. They issued a "neutral" rating and a $100.00 price objective for the company. Jefferies Financial Group dropped their price objective on GoDaddy from $140.00 to $100.00 and set a "hold" rating for the company in a report on Monday, February 23rd. Finally, Royal Bank Of Canada dropped their price objective on GoDaddy from $200.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, GoDaddy currently has an average rating of "Moderate Buy" and a consensus target price of $120.57.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 3,958 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $355,665.88. Following the completion of the transaction, the chief financial officer directly owned 109,228 shares in the company, valued at $9,815,228.08. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 542 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $48,704.12. Following the completion of the transaction, the chief accounting officer owned 19,995 shares of the company's stock, valued at approximately $1,796,750.70. This represents a 2.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 16,751 shares of company stock valued at $1,480,228 in the last ninety days. 0.93% of the stock is owned by company insiders.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company's core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.

Want to see what other hedge funds are holding GDDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GoDaddy Inc. (NYSE:GDDY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.