Katamaran Capital LLP Acquires New Shares in GoDaddy Inc. (NYSE:GDDY)

Katamaran Capital LLP bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,388 shares of the technology company’s stock, valued at approximately $1,458,000. GoDaddy comprises 1.9% of Katamaran Capital LLP’s investment portfolio, making the stock its 20th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of GDDY. WCM Investment Management LLC boosted its holdings in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after acquiring an additional 3,356,678 shares during the last quarter. Norges Bank bought a new position in GoDaddy during the fourth quarter valued at approximately $356,038,000. Congress Asset Management Co. purchased a new stake in GoDaddy in the fourth quarter worth approximately $111,923,000. Amundi grew its position in GoDaddy by 84.4% in the 4th quarter. Amundi now owns 931,874 shares of the technology company’s stock worth $183,710,000 after purchasing an additional 426,501 shares during the period. Finally, AustralianSuper Pty Ltd raised its stake in GoDaddy by 3,836.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock valued at $70,750,000 after buying an additional 349,358 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the sale, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at $68,572,778.10. This represents a 0.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the transaction, the director now directly owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,480 shares of company stock valued at $3,643,589. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Price Performance

NYSE:GDDY opened at $164.34 on Friday. The business’s 50-day simple moving average is $186.96 and its two-hundred day simple moving average is $184.82. GoDaddy Inc. has a 52 week low of $119.76 and a 52 week high of $216.00. The stock has a market cap of $23.23 billion, a PE ratio of 25.48 and a beta of 1.25. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. As a group, analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GDDY. Barclays raised their price target on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. raised their target price on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Morgan Stanley upped their price target on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Benchmark increased their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Piper Sandler boosted their target price on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Company 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.