GoDaddy Inc. $GDDY Shares Acquired by Distillate Capital Partners LLC

Distillate Capital Partners LLC lifted its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 49.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,037 shares of the technology company’s stock after purchasing an additional 36,834 shares during the quarter. Distillate Capital Partners LLC’s holdings in GoDaddy were worth $15,338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GDDY. American Century Companies Inc. increased its position in shares of GoDaddy by 130.5% during the third quarter. American Century Companies Inc. now owns 151,432 shares of the technology company’s stock valued at $20,720,000 after acquiring an additional 85,733 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of GoDaddy by 14.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock worth $15,602,000 after acquiring an additional 10,631 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of GoDaddy during the 3rd quarter worth approximately $30,575,000. GDS Wealth Management boosted its position in shares of GoDaddy by 16.3% during the 2nd quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock worth $10,793,000 after purchasing an additional 8,388 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in GoDaddy in the 2nd quarter valued at approximately $470,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GDDY has been the topic of a number of research analyst reports. Royal Bank Of Canada cut their target price on GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Citigroup lowered their price target on GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Morgan Stanley cut their price objective on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Jefferies Financial Group decreased their target price on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a research note on Monday, February 23rd. Finally, Benchmark lowered their target price on GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a report on Monday, February 23rd. One investment 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.57.

GoDaddy Stock Performance

Shares of GDDY opened at $81.18 on Monday. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $193.55. The stock has a market capitalization of $10.83 billion, a PE ratio of 13.03, a PEG ratio of 0.72 and a beta of 0.96. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a 50-day simple moving average of $97.46 and a 200-day simple moving average of $120.63.

GoDaddy (NYSE:GDDY) last released its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.22. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share. On average, analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 17,406 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $1,548,959.94. Following the sale, the chief financial officer directly owned 113,003 shares of the company’s stock, valued at approximately $10,056,136.97. This represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Leah Sweet sold 650 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total transaction of $56,459.00. Following the completion of the sale, the director owned 11,414 shares in the company, valued at $991,420.04. The trade was a 5.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 61,918 shares of company stock worth $5,500,469. Insiders own 0.70% of the company’s stock.

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.