Stadium Capital Management LLC Has $8.97 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Stadium Capital Management LLC lessened its stake in GoDaddy Inc. (NYSE:GDDY) by 38.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,238 shares of the technology company’s stock after selling 36,353 shares during the period. GoDaddy comprises 6.8% of Stadium Capital Management LLC’s portfolio, 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 filing with the SEC.

Several other hedge funds have also made changes to their positions in GDDY. Ashton Thomas Securities LLC acquired a new stake in GoDaddy during the third quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new stake in GoDaddy during the second quarter valued at approximately $28,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy during the third quarter valued at approximately $30,000. ORG Partners LLC acquired a new stake in GoDaddy during the second quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC acquired a new stake in GoDaddy during the second quarter valued at approximately $36,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GDDY stock opened at $208.15 on Thursday. The firm has a market capitalization of $29.22 billion, a price-to-earnings 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 Inc. has a 12-month low of $99.90 and a 12-month high of $208.71. The firm has a fifty day moving average of $173.43 and a 200-day moving average of $157.12.

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. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 EPS. On average, equities research analysts forecast that GoDaddy Inc. will post 4.98 earnings per share for the current year.

Insider Buying and Selling

In other GoDaddy news, CAO Nick Daddario sold 2,976 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at $2,232,912.08. The trade was a 16.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now directly owns 24,121 shares in the company, valued at $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,925 shares of company stock valued at $4,237,184. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. B. Riley lifted their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Piper Sandler lifted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays boosted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Five 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. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $176.38.

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.