SG Americas Securities LLC Boosts Stake in GoDaddy Inc. (NYSE:GDDY)

SG Americas Securities LLC grew its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 445.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,159 shares of the technology company's stock after purchasing an additional 32,796 shares during the period. SG Americas Securities LLC's holdings in GoDaddy were worth $7,234,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Abacus FCF Advisors LLC bought a new stake in shares of GoDaddy during the 1st quarter worth $10,300,000. Pallas Capital Advisors LLC lifted its holdings in shares of GoDaddy by 10.8% during the 1st quarter. Pallas Capital Advisors LLC now owns 4,802 shares of the technology company's stock worth $865,000 after acquiring an additional 468 shares during the last quarter. City Holding Co. lifted its holdings in shares of GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after acquiring an additional 60 shares during the last quarter. Range Financial Group LLC lifted its holdings in shares of GoDaddy by 14.8% during the 1st quarter. Range Financial Group LLC now owns 2,541 shares of the technology company's stock worth $458,000 after acquiring an additional 327 shares during the last quarter. Finally, OLD National Bancorp IN bought a new stake in shares of GoDaddy during the 1st quarter worth $234,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total transaction of $171,750.00. Following the transaction, the chief operating officer now owns 256,949 shares in the company, valued at $44,130,990.75. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $89,925.00. Following the sale, the director now owns 21,621 shares of the company's stock, valued at approximately $3,888,536.85. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,632 shares of company stock worth $12,426,675. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GDDY shares. Morgan Stanley dropped their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Barclays lowered their price target on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Royal Bank of Canada lowered their price target on shares of GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Benchmark reissued a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Finally, Piper Sandler boosted their price target on shares of GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $214.86.

GoDaddy Trading Down 1.2%

Shares of NYSE:GDDY traded down $2.20 during midday trading on Friday, hitting $175.57. 1,271,912 shares of the stock traded hands, compared to its average volume of 1,477,163. GoDaddy Inc. has a one year low of $135.73 and a one year high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The business's 50 day moving average is $179.95 and its two-hundred day moving average is $188.94. The stock has a market capitalization of $25.02 billion, a PE ratio of 27.22 and a beta of 1.07.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $2.76 EPS. GoDaddy's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.