GoDaddy Inc. (NYSE:GDDY) Shares Sold by Quadrant Capital Group LLC

Posted by on Jun 8th, 2023

Quadrant Capital Group LLC reduced its position in shares of GoDaddy Inc. (NYSE:GDDY – Get Rating) by 50.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 670 shares of the technology company’s stock after selling 682 shares during the period. Quadrant Capital Group LLC’s holdings in GoDaddy were worth $50,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Achmea Investment Management B.V. acquired a new position in shares of GoDaddy in the 1st quarter valued at approximately $31,000. Allworth Financial LP boosted its stake in GoDaddy by 56.7% during the 4th quarter. Allworth Financial LP now owns 456 shares of the technology company’s stock valued at $34,000 after acquiring an additional 165 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in GoDaddy during the 3rd quarter worth $64,000. Psagot Value Holdings Ltd. Israel bought a new stake in shares of GoDaddy in the 4th quarter worth about $75,000. Finally, Tobam increased its position in shares of GoDaddy by 80.8% in the 4th quarter. Tobam now owns 1,517 shares of the technology company’s stock worth $114,000 after purchasing an additional 678 shares during the last quarter. 97.32% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GDDY opened at $72.61 on Thursday. The stock’s 50 day moving average price is $74.18 and its 200 day moving average price is $75.71. The stock has a market cap of $11.22 billion, a P/E ratio of 34.74, a P/E/G ratio of 2.04 and a beta of 0.97. GoDaddy Inc. has a 12 month low of $64.65 and a 12 month high of $85.32.

GoDaddy (NYSE:GDDY – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.22). GoDaddy had a net margin of 8.03% and a negative return on equity of 95.00%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $0.41 earnings per share. GoDaddy’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts anticipate that GoDaddy Inc. will post 2.37 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 1,987 shares of the company’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $77.41, for a total value of $153,813.67. Following the completion of the sale, the chief executive officer now directly owns 278,258 shares of the company’s stock, valued at approximately $21,539,951.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Mark Mccaffrey sold 812 shares of GoDaddy stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $75.37, for a total transaction of $61,200.44. Following the transaction, the chief financial officer now directly owns 92,609 shares of the company’s stock, valued at $6,979,940.33. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 1,987 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $77.41, for a total transaction of $153,813.67. Following the completion of the sale, the chief executive officer now directly owns 278,258 shares of the company’s stock, valued at $21,539,951.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,859 shares of company stock valued at $598,037. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Royal Bank of Canada assumed coverage on GoDaddy in a report on Monday. They issued a “sector perform” rating and a $80.00 price objective for the company. Barclays reduced their price objective on GoDaddy from $100.00 to $98.00 in a research note on Friday, May 5th. Robert W. Baird initiated coverage on shares of GoDaddy in a report on Tuesday, April 11th. They set an “outperform” rating and a $95.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $100.00 price target on shares of GoDaddy in a report on Monday, February 13th. Finally, StockNews.com began coverage on shares of GoDaddy in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $91.91.

GoDaddy Profile

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GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. It operates through the Applications and Commerce (A and C) and Core Platform (Core) segments. The A and C segment consists of sales of products containing proprietary software, commerce products and third-party email and productivity solutions.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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