Qsemble Capital Management LP Raises Position in GoDaddy Inc. $GDDY

Key Points

• Qsemble Capital Management boosted its GoDaddy stake by 217.1% in the fourth quarter, ending with 38,442 shares worth about $4.77 million.
• GoDaddy’s stock was up 2.7% and opened at $87.27, while the company continues to trade well below its 52-week high of $190.50.
• The company recently beat earnings expectations, reporting $1.60 EPS versus $1.53 expected, and posted quarterly revenue of $1.27 billion, up 6.1% year over year.

Qsemble Capital Management LP increased its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 217.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,442 shares of the technology company's stock after buying an additional 26,318 shares during the period. Qsemble Capital Management LP's holdings in GoDaddy were worth $4,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GDDY. Ameriprise Financial Inc. raised its position in shares of GoDaddy by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company's stock worth $483,360,000 after buying an additional 1,128,646 shares in the last quarter. Two Sigma Investments LP raised its position in GoDaddy by 99.7% during the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company's stock valued at $223,183,000 after purchasing an additional 814,360 shares in the last quarter. Victory Capital Management Inc. raised its position in GoDaddy by 318.6% during the third quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company's stock valued at $100,632,000 after purchasing an additional 559,757 shares in the last quarter. Swedbank AB raised its position in GoDaddy by 433.9% during the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company's stock valued at $80,125,000 after purchasing an additional 524,811 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in GoDaddy by 85.2% during the third quarter. BNP Paribas Financial Markets now owns 894,243 shares of the technology company's stock valued at $122,359,000 after purchasing an additional 411,349 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Stock Up 2.7%

Shares of NYSE:GDDY opened at $87.27 on Friday. The stock's 50-day moving average price is $84.77 and its 200-day moving average price is $104.10. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $190.50. The stock has a market capitalization of $11.56 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 0.76 and a beta of 0.92. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The firm had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same period last year, the firm earned $1.51 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that GoDaddy Inc. will post 7.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GDDY shares. Wells Fargo & Company raised their price target on GoDaddy from $77.00 to $83.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. Cantor Fitzgerald lowered their price target on GoDaddy from $130.00 to $90.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 25th. Royal Bank Of Canada lowered their price target on GoDaddy from $200.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. Barclays lowered their price target on GoDaddy from $200.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, February 26th. Finally, Evercore set a $95.00 price target on GoDaddy in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $120.57.

Insider Buying and Selling

In other news, CAO Phontip Palitwanon sold 1,310 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total transaction of $118,096.50. Following the transaction, the chief accounting officer directly owned 20,349 shares of the company's stock, valued at approximately $1,834,462.35. This trade represents a 6.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leah Sweet sold 650 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $86.86, for a total value of $56,459.00. Following the transaction, the director directly owned 11,414 shares in the company, valued at $991,420.04. This trade represents a 5.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 61,918 shares of company stock valued at $5,500,469 over the last three months. 0.93% of the stock is owned by corporate 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.

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