Pallas Capital Advisors LLC Raises Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Pallas Capital Advisors LLC boosted its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,328 shares of the technology company’s stock after purchasing an additional 413 shares during the quarter. Pallas Capital Advisors LLC’s holdings in GoDaddy were worth $625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Gulf International Bank UK Ltd lifted its position in shares of GoDaddy by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock valued at $1,427,000 after acquiring an additional 113 shares in the last quarter. Sivia Capital Partners LLC lifted its position in GoDaddy by 3.9% during the first quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock worth $359,000 after buying an additional 113 shares in the last quarter. GAMMA Investing LLC lifted its position in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in GoDaddy by 28.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 681 shares of the technology company’s stock worth $95,000 after buying an additional 152 shares in the last quarter. Finally, Signaturefd LLC lifted its position in GoDaddy by 9.2% during the fourth quarter. Signaturefd LLC now owns 2,207 shares of the technology company’s stock worth $234,000 after buying an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 1.0 %

GDDY traded up $1.64 on Wednesday, hitting $164.63. 135,485 shares of the company were exchanged, compared to its average volume of 1,584,564. The company has a market cap of $23.49 billion, a price-to-earnings ratio of 13.53 and a beta of 1.14. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The firm has a 50-day moving average price of $146.24 and a two-hundred day moving average price of $131.57. GoDaddy Inc. has a twelve month low of $70.03 and a twelve month high of $165.55.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. On average, equities analysts predict that GoDaddy Inc. will post 4.81 earnings per share for the current year.

Insider Activity

In related news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Nick Daddario sold 523 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the completion of the transaction, the chief accounting officer now owns 22,666 shares in the company, valued at approximately $3,129,947.94. The disclosure for this sale can be found here. In the last three months, insiders sold 49,413 shares of company stock valued at $6,931,096. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the subject of several recent analyst reports. Citigroup raised their target price on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Royal Bank of Canada raised their target price on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays lifted their price objective on GoDaddy from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley lifted their price objective on GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $161.25.

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.