Thoroughbred Financial Services LLC Has $845,000 Holdings in GoDaddy Inc. (NYSE:GDDY)

Key Points

• Thoroughbred Financial Services LLC reduced its position in GoDaddy Inc. by 30.3% in the first quarter, owning 4,694 shares valued at $845,000.
• GoDaddy's shares fell 11.2%, reaching $133.38, with a significant trading volume of over 5.2 million shares.
• GoDaddy reported a quarterly earnings per share (EPS) of $1.41, surpassing analyst expectations and showing an 8.3% revenue increase year-over-year.

Thoroughbred Financial Services LLC decreased its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,694 shares of the technology company's stock after selling 2,043 shares during the quarter. Thoroughbred Financial Services LLC's holdings in GoDaddy were worth $845,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in GoDaddy by 1,412.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock worth $242,727,000 after acquiring an additional 1,258,324 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock worth $273,582,000 after acquiring an additional 719,000 shares during the last quarter. Pacer Advisors Inc. grew its holdings in GoDaddy by 893.4% during the 1st quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company's stock worth $116,685,000 after acquiring an additional 582,539 shares during the last quarter. GAMMA Investing LLC grew its holdings in GoDaddy by 18,248.7% during the 1st quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock worth $92,516,000 after acquiring an additional 510,780 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in GoDaddy by 88.2% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock worth $213,630,000 after acquiring an additional 507,374 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

GoDaddy Trading Down 11.2%

Shares of NYSE:GDDY traded down $16.87 during mid-day trading on Friday, reaching $133.38. The stock had a trading volume of 5,238,112 shares, compared to its average volume of 1,721,502. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The firm has a market cap of $19.01 billion, a PE ratio of 23.82 and a beta of 1.08. The firm has a 50 day simple moving average of $171.43 and a two-hundred day simple moving average of $179.84. GoDaddy Inc. has a twelve month low of $132.73 and a twelve month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 188.09%. The business's quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. On average, research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GDDY. Morgan Stanley reduced their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Citigroup reduced their target price on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research note on Friday. Piper Sandler set a $182.00 target price on shares of GoDaddy and gave the company an "overweight" rating in a research note on Friday. Royal Bank Of Canada reduced their target price on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.43.

Insider Activity

In other GoDaddy news, Director Brian Sharples sold 500 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $160.47, for a total transaction of $80,235.00. Following the sale, the director directly owned 21,457 shares in the company, valued at approximately $3,443,204.79. This trade represents a 2.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark Mccaffrey sold 625 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $177.08, for a total transaction of $110,675.00. Following the sale, the chief financial officer owned 73,459 shares in the company, valued at $13,008,119.72. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,257 shares of company stock worth $5,827,280. Corporate insiders own 0.61% of the company's stock.

GoDaddy 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.