Spyglass Capital Management LLC Has $52.82 Million Position in GoDaddy Inc. (NYSE:GDDY)

Spyglass Capital Management LLC reduced its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 24.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 267,614 shares of the technology company's stock after selling 86,609 shares during the period. GoDaddy accounts for approximately 3.0% of Spyglass Capital Management LLC's holdings, making the stock its 21st biggest position. Spyglass Capital Management LLC owned about 0.19% of GoDaddy worth $52,819,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rakuten Securities Inc. boosted its holdings in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after buying an additional 165 shares during the period. OFI Invest Asset Management bought a new stake in GoDaddy in the 4th quarter valued at $52,000. Summit Securities Group LLC bought a new stake in GoDaddy in the 4th quarter valued at $58,000. Physician Wealth Advisors Inc. bought a new stake in GoDaddy in the 4th quarter valued at $67,000. Finally, Global Retirement Partners LLC boosted its holdings in GoDaddy by 31.1% in the 4th quarter. Global Retirement Partners LLC now owns 392 shares of the technology company's stock valued at $77,000 after purchasing an additional 93 shares during the period. 90.28% of the stock is owned by institutional investors.

GoDaddy Price Performance

GDDY traded up $0.46 during midday trading on Thursday, hitting $183.95. The company had a trading volume of 1,321,497 shares, compared to its average volume of 1,484,465. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company has a market capitalization of $26.21 billion, a PE ratio of 28.52 and a beta of 1.13. GoDaddy Inc. has a twelve month low of $135.73 and a twelve month high of $216.00. The firm's 50-day simple moving average is $179.33 and its 200-day simple moving average is $189.39.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.76 EPS. Equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $541,980.00. Following the transaction, the chief executive officer now owns 505,649 shares of the company's stock, valued at $91,350,548.34. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the completion of the transaction, the director now directly owns 22,121 shares in the company, valued at approximately $3,996,379.86. The trade was a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,526 shares of company stock worth $10,243,716 in the last quarter. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of research reports. Jefferies Financial Group reduced their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Morgan Stanley reduced 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. Finally, Wells Fargo & Company assumed coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price objective for the company. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $214.86.

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.