Rafferty Asset Management LLC Decreases Stake in GoDaddy Inc. $GDDY

Key Points

• Rafferty Asset Management LLC sold 12,015 shares of GoDaddy Inc., reducing its stake by 21.6%, leaving it with 43,585 shares valued at approximately $7.85 million.
• Institutional investors now own 90.28% of GoDaddy's stock, indicating significant institutional interest and investment in the company.
• GoDaddy's recent earnings report showed an 8.3% year-over-year revenue increase, with earnings per share of $1.41, surpassing expectations by $0.07.

Rafferty Asset Management LLC decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 21.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,585 shares of the technology company's stock after selling 12,015 shares during the quarter. Rafferty Asset Management LLC's holdings in GoDaddy were worth $7,851,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted 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 purchasing an additional 79 shares during the last quarter. Park Square Financial Group LLC acquired a new position in GoDaddy in the first quarter valued at about $27,000. Private Trust Co. NA raised its stake in GoDaddy by 591.3% in the first quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in GoDaddy in the first quarter valued at about $30,000. Finally, GW&K Investment Management LLC raised its stake in GoDaddy by 307.9% in the first quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock valued at $46,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GDDY shares. Raymond James Financial decreased their target price on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 8th. Wall Street Zen cut GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Citigroup decreased 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. JPMorgan Chase & Co. lifted their target price on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Finally, Barclays decreased their target price on GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

GoDaddy Trading Up 0.3%

GDDY traded up $0.38 during trading on Friday, hitting $148.24. The company's stock had a trading volume of 1,286,424 shares, compared to its average volume of 2,409,656. GoDaddy Inc. has a twelve month low of $132.51 and a twelve month high of $216.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33. The stock's fifty day moving average price is $161.29 and its 200-day moving average price is $172.87. The firm has a market capitalization of $20.52 billion, a P/E ratio of 27.36, a PEG ratio of 1.60 and a beta of 1.08.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its 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 company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.GoDaddy's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity

In other news, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $143.53, for a total transaction of $143,530.00. Following the completion of the sale, the chief operating officer directly owned 252,949 shares of the company's stock, valued at $36,305,769.97. This trade represents a 0.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $160.47, for a total value of $80,235.00. Following the completion of the sale, the director directly owned 21,457 shares of the company's stock, valued at approximately $3,443,204.79. This trade represents a 2.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,881 shares of company stock worth $5,869,390. 0.70% of the stock is owned by insiders.

GoDaddy Company 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.