Wedge Capital Management L L P NC Lowers Holdings in GoDaddy Inc. $GDDY

Key Points

• Wedge Capital Management L L P NC has significantly reduced its holdings in GoDaddy Inc. by 97.6% in the second quarter, now owning only 7,830 shares valued at approximately $1.41 million.
• GoDaddy's recent quarterly earnings report showed an earnings per share (EPS) of $1.41, surpassing expectations, with a revenue increase of 8.3% compared to the same quarter last year.
• Analysts have adjusted their price targets for GoDaddy, with a consensus average target of $202.43 and a rating of "Moderate Buy."

Wedge Capital Management L L P NC decreased its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 97.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,830 shares of the technology company's stock after selling 318,859 shares during the quarter. Wedge Capital Management L L P NC's holdings in GoDaddy were worth $1,410,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GDDY. Vident Advisory LLC grew its holdings in GoDaddy by 50.9% in the 4th quarter. Vident Advisory LLC now owns 2,169 shares of the technology company's stock valued at $428,000 after buying an additional 732 shares during the period. Vise Technologies Inc. purchased a new stake in GoDaddy in the 4th quarter valued at about $255,000. Mackenzie Financial Corp grew its holdings in GoDaddy by 9.8% in the 4th quarter. Mackenzie Financial Corp now owns 121,185 shares of the technology company's stock valued at $23,918,000 after buying an additional 10,791 shares during the period. Ascent Group LLC grew its holdings in GoDaddy by 11.0% in the 4th quarter. Ascent Group LLC now owns 2,649 shares of the technology company's stock valued at $523,000 after buying an additional 262 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of GoDaddy in the 4th quarter valued at about $25,582,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Stock Performance

Shares of GDDY opened at $147.96 on Tuesday. The business's 50 day moving average is $151.61 and its two-hundred day moving average is $169.10. GoDaddy Inc. has a 52-week low of $132.51 and a 52-week high of $216.00. The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.56 and a beta of 1.02. 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 posted its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. The business 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%.The business's revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GDDY shares. Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Royal Bank Of Canada reduced their price objective on GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Barclays reduced their price objective on GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Citigroup reduced their price objective on GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Raymond James Financial reduced their price objective 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. One 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $202.43.

Insider Buying and Selling at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $146.26, for a total transaction of $73,130.00. Following the sale, the director directly owned 20,957 shares of the company's stock, valued at approximately $3,065,170.82. This represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $150.00, for a total value of $900,000.00. Following the sale, the chief executive officer directly owned 406,065 shares in the company, valued at approximately $60,909,750. This represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,828 shares of company stock worth $5,394,638. 0.70% of the stock is owned by insiders.

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.

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