Ossiam Purchases 53,212 Shares of GoDaddy Inc. $GDDY

Ossiam grew its position in GoDaddy Inc. (NYSE:GDDY) by 27.6% during the third quarter, Holdings Channel reports. The institutional investor owned 246,284 shares of the technology company’s stock after acquiring an additional 53,212 shares during the quarter. Ossiam’s holdings in GoDaddy were worth $33,699,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GDDY. Prudential PLC lifted its position in GoDaddy by 27.7% during the third quarter. Prudential PLC now owns 48,081 shares of the technology company’s stock valued at $6,579,000 after acquiring an additional 10,436 shares during the last quarter. Perbak Capital Partners LLP acquired a new stake in GoDaddy in the third quarter valued at approximately $507,000. Brown Brothers Harriman & Co. grew its holdings in GoDaddy by 145.6% in the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock worth $35,000 after purchasing an additional 150 shares during the last quarter. FORA Capital LLC increased its position in shares of GoDaddy by 220.2% during the third quarter. FORA Capital LLC now owns 18,455 shares of the technology company’s stock worth $2,525,000 after purchasing an additional 12,692 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its position in shares of GoDaddy by 10,504.7% during the third quarter. Epoch Investment Partners Inc. now owns 165,434 shares of the technology company’s stock worth $22,636,000 after purchasing an additional 163,874 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GDDY opened at $81.18 on Friday. The firm has a fifty day moving average price of $97.46 and a 200 day moving average price of $120.99. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $193.55. The stock has a market cap of $10.83 billion, a P/E ratio of 13.03, a P/E/G ratio of 0.74 and a beta of 0.96. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GDDY shares. Citigroup lowered their price objective on GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. Jefferies Financial Group cut their price objective on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. Benchmark reduced their price objective on GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Finally, UBS Group decreased their target price on GoDaddy from $145.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.57.

Insiders Place Their Bets

In other news, Director Leah Sweet sold 650 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $86.86, for a total transaction of $56,459.00. Following the transaction, the director owned 11,414 shares in the company, valued at $991,420.04. This trade represents a 5.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the completion of the sale, the chief executive officer directly owned 530,120 shares in the company, valued at $47,175,378.80. This represents a 6.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 61,918 shares of company stock worth $5,500,469. 0.70% of the stock is owned by company insiders.

GoDaddy Company 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.