GAMMA Investing LLC Boosts Holdings in GoDaddy Inc. (NYSE:GDDY)

GAMMA Investing LLC lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 18,248.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 513,579 shares of the technology company's stock after buying an additional 510,780 shares during the period. GAMMA Investing LLC owned approximately 0.36% of GoDaddy worth $92,516,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. WCM Investment Management LLC lifted its position in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the period. Norges Bank acquired a new position in GoDaddy during the fourth quarter valued at $356,038,000. Canada Pension Plan Investment Board lifted its position in GoDaddy by 107.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after purchasing an additional 719,000 shares during the period. Congress Asset Management Co. acquired a new position in GoDaddy during the fourth quarter valued at $111,923,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in GoDaddy by 88.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock valued at $213,630,000 after purchasing an additional 507,374 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In related news, CAO Phontip Palitwanon sold 684 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total transaction of $122,990.04. Following the sale, the chief accounting officer now directly owns 23,371 shares of the company's stock, valued at $4,202,339.51. This represents a 2.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $190.86, for a total transaction of $572,580.00. Following the sale, the chief executive officer now directly owns 440,947 shares in the company, valued at approximately $84,159,144.42. The trade was a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,459 shares of company stock worth $12,214,374 in the last ninety days. 0.61% of the stock is owned by insiders.

GoDaddy Price Performance

NYSE GDDY traded down $2.02 during trading hours on Thursday, hitting $180.27. 2,105,154 shares of the company's stock traded hands, compared to its average volume of 1,480,530. GoDaddy Inc. has a 52-week low of $135.73 and a 52-week high of $216.00. The company has a market capitalization of $25.69 billion, a PE ratio of 27.95 and a beta of 1.13. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm's 50-day moving average is $179.34 and its 200-day moving average is $189.41.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the company posted $2.76 EPS. The firm's revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GDDY shares. Benchmark restated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. B. Riley lifted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 14th. Citigroup cut their price objective on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a report on Friday, April 25th. Royal Bank of Canada cut their price objective on shares of GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Morgan Stanley cut their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $214.86.

About GoDaddy

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.