Shake-Up Alert: 40 Companies Facing Activist Pressure

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7. Starboard Value at GoDaddy Inc. (NYSE:GDDY)

Stock Return: 88.76%

S&P 500 Return: 38.14%

Investment date: 27/12/2021

Number of hedge funds holding stakes: 48

GoDaddy Inc. (NYSE:GDDY) designs and develops cloud-based products, including websites. It also offers connected commerce comprising Smart Terminal, a dual-screen all-in-one Point-of-Sale system that allows customers to manage in-store inventory.

Activist hedge fund Starboard Value is pushing GoDaddy Inc. (NYSE:GDDY) ‘s management to persist in its progress by establishing clear and achievable growth objectives and offering investors additional insights into the strategies for enhancing profit margins. The hedge fund, which owns a 6% stake, has advocated for GoDaddy Inc. (NYSE:GDDY) to increase its free cash flow and improve its profit margins.

Starboard believes the company should aim at 40% growth and profitability for 2025. The stock is already up by about 40% for the year. The number of hedge funds holding stakes in GoDaddy Inc. (NYSE:GDDY) increased to 48 in Q1 2024 from 42 in Q4 2023, according to Insider Monkey.

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