SWS Partners Acquires New Shares in GoDaddy Inc. $GDDY

Key Points

• SWS Partners acquired 6,688 new shares of GoDaddy Inc., valued at approximately $1,204,000, during the second quarter as part of its investment strategy.
• GDDY has seen significant growth in institutional investments, with firms like Goldman Sachs and Assenagon Asset Management increasing their stakes by over 257% and 1,412%, respectively, highlighting confidence in the company's future.
• Despite recent sales by insiders, analysts project a moderate buy consensus rating for GoDaddy, with varying target prices influenced by recent adjustments from multiple financial institutions.

SWS Partners bought a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,688 shares of the technology company's stock, valued at approximately $1,204,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GDDY. Goldman Sachs Group Inc. grew its stake in GoDaddy by 257.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company's stock valued at $402,946,000 after purchasing an additional 1,610,890 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in GoDaddy by 1,412.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock valued at $242,727,000 after purchasing an additional 1,258,324 shares during the last quarter. JPMorgan Chase & Co. grew its stake in GoDaddy by 41.1% in the first quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock valued at $439,525,000 after purchasing an additional 710,842 shares during the last quarter. Pacer Advisors Inc. grew its stake in GoDaddy by 893.4% in the first quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company's stock valued at $116,685,000 after purchasing an additional 582,539 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in GoDaddy by 18,248.7% in the first quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock valued at $92,516,000 after purchasing an additional 510,780 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 3,326 shares of the company's 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 $472,990.46. Following the sale, the chief financial officer owned 70,133 shares in the company, valued at $9,973,613.93. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $146.26, for a total value of $73,130.00. Following the completion of the sale, the director owned 20,957 shares in the company, valued at approximately $3,065,170.82. This represents a 2.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,828 shares of company stock valued at $5,394,638 over the last quarter. Company insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several analyst reports. Citigroup cut 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. Raymond James Financial cut 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. 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. Barclays dropped their price target on GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Wells Fargo & Company dropped their price target on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $141.31 on Monday. The business's 50 day moving average price is $149.53 and its 200 day moving average price is $168.25. The firm has a market cap of $19.56 billion, a P/E ratio of 25.23, a P/E/G ratio of 1.53 and a beta of 1.02. GoDaddy Inc. has a 52 week low of $132.51 and a 52 week high of $216.00. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.GoDaddy's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts expect 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.

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