Y Intercept Hong Kong Ltd Acquires 45,190 Shares of GoDaddy Inc. $GDDY

Y Intercept Hong Kong Ltd raised its holdings in GoDaddy Inc. (NYSE:GDDY) by 145.7% in the third quarter, Holdings Channel.com reports. The fund owned 76,199 shares of the technology company’s stock after acquiring an additional 45,190 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in GoDaddy were worth $10,426,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Sivia Capital Partners LLC lifted its stake in shares of GoDaddy by 90.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock valued at $589,000 after purchasing an additional 1,552 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in GoDaddy by 94.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,429 shares of the technology company’s stock valued at $2,027,000 after buying an additional 5,546 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of GoDaddy by 473.1% in the second quarter. Farther Finance Advisors LLC now owns 1,450 shares of the technology company’s stock worth $261,000 after buying an additional 1,197 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of GoDaddy by 12.1% in the second quarter. GAMMA Investing LLC now owns 3,195 shares of the technology company’s stock worth $575,000 after buying an additional 344 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of GoDaddy by 22.4% during the 2nd quarter. Fifth Third Bancorp now owns 2,319 shares of the technology company’s stock worth $418,000 after acquiring an additional 425 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research note on Friday, October 31st. UBS Group lowered their price target on GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. JPMorgan Chase & Co. dropped their price target on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Citigroup reduced their price objective on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Wells Fargo & Company lowered their target price on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.21.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 3,317 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $424,376.98. Following the transaction, the chief financial officer directly owned 66,816 shares in the company, valued at $8,548,439.04. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Phontip Palitwanon sold 2,397 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the sale, the chief accounting officer owned 17,055 shares of the company’s stock, valued at $2,190,544.20. This represents a 12.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,115 shares of company stock worth $1,809,657 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

GoDaddy Stock Down 2.3%

GDDY opened at $103.57 on Friday. The business has a 50 day moving average of $121.34 and a 200-day moving average of $136.90. The stock has a market capitalization of $14.00 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 0.96 and a beta of 0.95. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. GoDaddy Inc. has a 1-year low of $102.85 and a 1-year high of $216.00.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. GoDaddy’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 earnings per share. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.