Reglikedomain industry desk

Big stake in GoDaddy — Starboard takes

Big stake in GoDaddy — Starboard takes

Activist investor takes 6.5% stake in GoDaddy.

GoDaddy logo showing the heart-shaped design

Investment firm Starboard has made a significant investment in shares of GoDaddy (NYSE: GDDY).

Today, the group filed a 13D with the SEC, disclosing its ownership stake.

Shares of GoDaddy are up regarding 8% today on the news.

In a story today, The Wall Street Journal referred to Starboard as an “activist investor” and notes, “Starboard typically pushes the firms it invests in to boost profit margins or improve performance in other ways and often seeks seats on their boards.”

This isn’t Starboard’s first investment in a domain name firm; it invested in Web.com in 2018.

GoDaddy has benefited from the move online during the pandemic, but its share price hasn’t followed. Even following today’s stock price jump, shares trade below their 2018 peak.

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