112,728 Shares in GoDaddy Inc. $GDDY Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, Holdings Channel reports. The firm purchased 112,728 shares of the technology company’s stock, valued at approximately $15,425,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hemington Wealth Management grew its stake in shares of GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in GoDaddy during the 2nd quarter worth about $26,000. NewSquare Capital LLC lifted its holdings in GoDaddy by 170.9% during the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after buying an additional 94 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth about $31,000. Finally, Steph & Co. purchased a new position in shares of GoDaddy in the 2nd quarter valued at about $55,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $424,376.98. Following the completion of the sale, the chief financial officer directly owned 66,816 shares of the company’s stock, valued at approximately $8,548,439.04. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Phontip Palitwanon sold 2,397 shares of GoDaddy stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the transaction, the chief accounting officer owned 17,055 shares in the company, valued at $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,115 shares of company stock worth $1,809,657 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $104.19 on Thursday. The firm’s fifty day simple moving average is $122.36 and its 200-day simple moving average is $137.65. GoDaddy Inc. has a 12 month low of $102.85 and a 12 month high of $216.00. The stock has a market capitalization of $14.08 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 0.94 and a beta of 0.95. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. GoDaddy’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 EPS. As a group, equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GDDY shares. B. Riley decreased their target price on GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Cantor Fitzgerald reduced their price objective on shares of GoDaddy from $150.00 to $130.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Citigroup dropped their target price on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. JPMorgan Chase & Co. cut their price target on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Finally, Wells Fargo & Company decreased their price objective on shares of GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $166.21.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.