Stadium Capital Management LLC Reduces Holdings in GoDaddy Inc. (NYSE:GDDY)

Stadium Capital Management LLC lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 38.8% during the third quarter, HoldingsChannel.com reports. The firm owned 57,238 shares of the technology company’s stock after selling 36,353 shares during the quarter. GoDaddy makes up about 6.8% of Stadium Capital Management LLC’s holdings, making the stock its 5th biggest holding. Stadium Capital Management LLC’s holdings in GoDaddy were worth $8,974,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares in the last quarter. Highland Capital Management LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth approximately $1,132,000. Swedbank AB boosted its position in shares of GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after acquiring an additional 5,247 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after acquiring an additional 9,631 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd boosted its position in shares of GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after acquiring an additional 17,021 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the transaction, the chief operating officer now directly owns 187,632 shares in the company, valued at $28,551,961.44. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00. Following the transaction, the chief executive officer now owns 342,956 shares of the company’s stock, valued at $67,826,408.12. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,925 shares of company stock worth $4,237,184. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Piper Sandler raised their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Barclays raised their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $176.38.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $208.15 on Thursday. GoDaddy Inc. has a twelve month low of $99.90 and a twelve month high of $208.71. The firm has a fifty day simple moving average of $173.43 and a 200 day simple moving average of $157.12. The company has a market capitalization of $29.22 billion, a PE ratio of 16.09 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm earned $0.89 earnings per share. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts forecast that GoDaddy Inc. will post 4.98 EPS for the current year.

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.