Pensionfund Sabic Cuts Holdings in GoDaddy Inc. $GDDY

Key Points

• Pensionfund Sabic has reduced its stake in GoDaddy Inc. by 22.4%, owning now 6,600 shares valued at approximately $1.19 million.
• A significant number of hedge funds have adjusted their positions in GoDaddy, with Cornerstone Planning Group LLC increasing their holdings by 123.4% in the same quarter.
• GoDaddy's stock price has seen a decline in analysts' price targets, with Barclays and Citigroup lowering their objectives to $200 and $214 respectively, signaling mixed market sentiments.

Pensionfund Sabic lessened its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 22.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,600 shares of the technology company's stock after selling 1,900 shares during the quarter. Pensionfund Sabic's holdings in GoDaddy were worth $1,189,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of GoDaddy in the 1st quarter valued at $1,124,000. Voya Investment Management LLC raised its holdings in shares of GoDaddy by 102.8% in the 1st quarter. Voya Investment Management LLC now owns 805,112 shares of the technology company's stock valued at $145,033,000 after buying an additional 408,178 shares during the period. Strs Ohio purchased a new stake in shares of GoDaddy in the 1st quarter valued at $1,468,000. Geneos Wealth Management Inc. raised its holdings in shares of GoDaddy by 32.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 730 shares of the technology company's stock valued at $132,000 after buying an additional 178 shares during the period. Finally, MBB Public Markets I LLC purchased a new stake in GoDaddy during the 1st quarter worth about $315,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Stock Performance

Shares of NYSE GDDY traded down $0.48 during trading hours on Friday, reaching $145.88. The stock had a trading volume of 281,547 shares, compared to its average volume of 1,571,914. The firm has a market cap of $20.20 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.56 and a beta of 1.02. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a fifty-two week low of $132.51 and a fifty-two week high of $216.00. The firm has a 50-day moving average of $152.51 and a 200-day moving average of $169.58.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The business's revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank Of Canada cut their price target on GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Barclays cut their price target on GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Wells Fargo & Company cut their price target on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a report on Friday, August 8th. Citigroup cut their price target on GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Raymond James Financial cut their price target on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock 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 issued a Hold rating to the company. Based on data from MarketBeat, GoDaddy presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.43.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $150.00, for a total transaction of $900,000.00. Following the completion of the sale, the chief executive officer directly owned 406,065 shares of the company's stock, valued at $60,909,750. This represents a 1.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 777 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total value of $110,497.17. Following the sale, the chief accounting officer directly owned 20,421 shares of the company's stock, valued at approximately $2,904,070.41. This represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,828 shares of company stock worth $5,394,638. Insiders own 0.70% of the company's stock.

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.