Sandler Capital Management Reduces Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• Sandler Capital Management significantly reduced its holdings in GoDaddy Inc. by 50.5% during the first quarter, now owning approximately $4.61 million worth of shares.
• Institutional investors and hedge funds collectively hold 90.28% of GoDaddy’s stock, indicating strong overall institutional support for the company.
• Multiple Wall Street analysts have lowered their price targets for GoDaddy shares, with an average target now at $202.43, reflecting cautious sentiment about the stock's future performance.

Sandler Capital Management lowered its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 50.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,582 shares of the technology company's stock after selling 26,051 shares during the quarter. GoDaddy comprises 1.2% of Sandler Capital Management's portfolio, making the stock its 24th biggest holding. Sandler Capital Management's holdings in GoDaddy were worth $4,608,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its stake in shares of GoDaddy by 123.4% in the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after buying an additional 79 shares during the period. Park Square Financial Group LLC bought a new position in shares of GoDaddy in the first quarter worth about $27,000. Private Trust Co. NA raised its stake in GoDaddy by 591.3% during the 1st 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 during the period. Zions Bancorporation National Association UT bought a new stake in GoDaddy during the 1st quarter valued at approximately $30,000. Finally, Banque Transatlantique SA bought a new stake in GoDaddy during the 1st quarter valued at approximately $36,000. Institutional investors own 90.28% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently 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 note on Friday, August 8th. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Barclays decreased their target price on GoDaddy from $235.00 to $200.00 and set an "overweight" 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 company an "overweight" rating in a research note on Friday, August 8th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $202.43.

GoDaddy Price Performance

NYSE:GDDY traded up $0.73 during trading hours on Tuesday, reaching $148.79. The stock had a trading volume of 1,509,962 shares, compared to its average volume of 1,785,836. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64. GoDaddy Inc. has a 52 week low of $132.51 and a 52 week high of $216.00. The company has a 50 day moving average price of $156.75 and a two-hundred day moving average price of $171.04. The stock has a market capitalization of $20.60 billion, a PE ratio of 26.57, a PEG ratio of 1.60 and a beta of 1.02.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The company's revenue was up 8.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In other news, CAO Phontip Palitwanon sold 777 shares of GoDaddy stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total value of $110,497.17. Following the completion of the transaction, the chief accounting officer owned 20,421 shares in the company, valued at approximately $2,904,070.41. The trade was a 3.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $141.14, for a total value of $91,741.00. Following the completion of the transaction, the director owned 12,064 shares of the company's stock, valued at approximately $1,702,712.96. This trade represents a 5.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,828 shares of company stock worth $4,524,888. 0.70% of the stock is currently owned by corporate 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.