Spyglass Capital Management LLC decreased its position in GoDaddy Inc. (NYSE:GDDY – Free Report) by 7.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 779,334 shares of the technology company’s stock after selling 66,174 shares during the period. GoDaddy comprises approximately 4.2% of Spyglass Capital Management LLC’s holdings, making the stock its 12th largest position. Spyglass Capital Management LLC owned about 0.53% of GoDaddy worth $58,551,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Achmea Investment Management BV acquired a new stake in shares of GoDaddy during the first quarter valued at approximately $31,000. Penserra Capital Management LLC acquired a new stake in shares of GoDaddy during the fourth quarter valued at approximately $62,000. Tower Research Capital LLC TRC increased its position in shares of GoDaddy by 3,145.1% during the first quarter. Tower Research Capital LLC TRC now owns 1,655 shares of the technology company’s stock valued at $128,000 after acquiring an additional 1,604 shares during the period. Covestor Ltd raised its position in shares of GoDaddy by 1,821.4% during the first quarter. Covestor Ltd now owns 1,979 shares of the technology company’s stock valued at $166,000 after acquiring an additional 1,876 shares during the period. Finally, American International Group Inc. raised its position in shares of GoDaddy by 35.7% during the second quarter. American International Group Inc. now owns 2,278 shares of the technology company’s stock valued at $171,000 after acquiring an additional 599 shares during the period. Institutional investors and hedge funds own 95.03% of the company’s shares.
GoDaddy stock down 1.9%
Shares of NYSE GDDY traded up $1.95 during trading on Friday, reaching $102.01. 1,900,105 shares of the company traded hands, compared to its average volume of 1,646,153. GoDaddy Inc. it has a one year low of $67.43 and a one year high of $102.39. The company has a 50-day moving average price of $81.80 and a 200-day moving average price of $76.42. The firm has a market cap of $14.4 billion, a P/E ratio of 43.78 and a beta of 1.04.
GoDaddy (NYSE:GDDY – Get Your Free Report ) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.18. GoDaddy had a net margin of 8.45% and a negative return on equity of 63.92%. The company had revenue of $1.07 billion in the quarter, compared to analysts’ expectations of $1.06 billion. Research analysts predict that GoDaddy Inc. will post 3.14 EPS for the current fiscal year.
Analysts set new price targets
A number of brokerages have weighed in on GDDY recently. Robert W. Baird boosted their price objective on shares of GoDaddy from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 21st. Barclays reduced their price objective on shares of GoDaddy from $98.00 to $95.00 and set an “overweight” rating for the company in a research note on Friday, August 4th. Piper Sandler boosted their price objective on shares of GoDaddy from $84.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. UBS Group began coverage on shares of GoDaddy in a research note on Friday, September 22nd. They set a “neutral” rating and a $80.00 price objective for the company. Finally, Royal Bank of Canada raised shares of GoDaddy from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $90.00 to $124. 00 dollars in a research note on Wednesday, November 22nd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.91, according to data from MarketBeat.
Read our latest stock report on GDDY
Internal activity
In other news, CAO Nick Daddario sold 300 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $89.26, with a total transaction of $26,778.00. Following the completion of the sale, the chief accounting officer now directly owns 18,196 shares of the company’s stock, valued at approximately $1,624,174.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed this link. In related news, CEO Amanpal Singh Bhutani sold 3,164 shares of GoDaddy stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $73.57, for a total transaction of $232,775.48. Following the transaction, the chief executive officer now owns 269,961 shares in the company, valued at approximately $19,861,030.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed this hyperlink. Also, CAO Nick Daddario sold 300 shares of GoDaddy stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $89.26, with a total transaction of $26,778.00. Following the transaction, the chief accounting officer now owns 18,196 shares in the company, valued at approximately $1,624,174.96. Disclosure of this sale can be found here. Insiders sold 116,817 shares of company stock valued at $9,736,042 over the last ninety days. Company experts own 0.54% of the company’s stock.
GoDaddy profile
(Free Report)
GoDaddy Inc is engaged in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce and Basic Platform. The Applications and Commerce segment offers application products, including Websites + Marketing, a mobile-optimized online tool that enables customers to create e-commerce-enabled websites and online stores; and Managed WordPress, a streamlined and optimized hosting platform that enables customers to build and manage a WordPress site faster and more securely and is offered with WooCommerce for selling online; and marketing tools and services, such as the GoDaddy Studio mobile app, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and attract customers and create content.
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