Patton Fund Management Inc. Reduces Holdings in GoDaddy Inc. $GDDY

Key Points

• Patton Fund Management Inc. reduced its stake in GoDaddy Inc. by 42.9% during Q2, owning 14,244 shares worth approximately $2.57 million after the sale.
• In Q2, other institutional investors showed varied activity, with CX Institutional increasing its holdings by 13.1% and Public Employees Retirement System of Ohio boosting its stake by 63.7%.
• GoDaddy reported an earnings per share (EPS) of $1.41 for the last quarter, exceeding estimates, and recorded a year-over-year revenue increase of 8.3%.

Patton Fund Management Inc. decreased its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 42.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,244 shares of the technology company's stock after selling 10,681 shares during the period. Patton Fund Management Inc.'s holdings in GoDaddy were worth $2,565,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. CX Institutional lifted its holdings in GoDaddy by 13.1% during the 2nd quarter. CX Institutional now owns 577 shares of the technology company's stock worth $104,000 after purchasing an additional 67 shares in the last quarter. Steph & Co. purchased a new stake in GoDaddy during the 2nd quarter worth about $55,000. Public Employees Retirement System of Ohio lifted its holdings in GoDaddy by 63.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 75,805 shares of the technology company's stock worth $13,649,000 after purchasing an additional 29,500 shares in the last quarter. Ballentine Partners LLC purchased a new stake in GoDaddy during the 2nd quarter worth about $535,000. Finally, Norden Group LLC lifted its holdings in GoDaddy by 8.8% during the 2nd quarter. Norden Group LLC now owns 3,880 shares of the technology company's stock worth $699,000 after purchasing an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $141.31 on Friday. 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 firm has a market capitalization of $19.56 billion, a P/E ratio of 25.23, a P/E/G ratio of 1.53 and a beta of 1.02. The stock's 50-day simple moving average is $149.53 and its two-hundred day simple moving average is $168.32. GoDaddy Inc. has a twelve month low of $132.51 and a twelve month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. The firm 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%.The company's revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity

In other news, Director Leah Sweet sold 650 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $141.14, for a total transaction of $91,741.00. Following the transaction, the director directly owned 12,064 shares in the company, valued at approximately $1,702,712.96. This represents a 5.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $472,990.46. Following the transaction, the chief financial officer 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. In the last three months, insiders sold 34,828 shares of company stock worth $5,394,638. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GDDY. Barclays dropped their price objective on GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Raymond James Financial dropped their price objective on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a report on Friday, August 8th. Citigroup decreased their target price on GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Piper Sandler set a $182.00 target price on GoDaddy and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada decreased their target price on GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. One 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.43.

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.

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