Vanguard Group Inc. Grows Position in GoDaddy Inc. $GDDY

Vanguard Group Inc. raised its holdings in GoDaddy Inc. (NYSE:GDDY) by 0.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,912,182 shares of the technology company’s stock after acquiring an additional 150,045 shares during the period. Vanguard Group Inc. owned approximately 0.14% of GoDaddy worth $2,587,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of GDDY. Hemington Wealth Management boosted its holdings in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares during the period. NewSquare Capital LLC boosted its holdings in shares of GoDaddy by 170.9% in the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after acquiring an additional 94 shares during the period. Root Financial Partners LLC bought a new position in shares of GoDaddy in the third quarter worth $31,000. Bayforest Capital Ltd grew its position in shares of GoDaddy by 141.5% in the third quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock valued at $49,000 after purchasing an additional 208 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of GoDaddy during the 3rd quarter valued at $61,000. Institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on GDDY shares. Morgan Stanley cut their target price on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a research report on Friday, October 31st. Jefferies Financial Group decreased their target price on shares of GoDaddy from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Monday, January 5th. UBS Group decreased their target price on GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Finally, Citigroup decreased their price target on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.21.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 6,932 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the transaction, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at approximately $51,065,076.02. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 3,317 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 13,615 shares of company stock valued at $1,743,102. Insiders own 0.70% of the company’s stock.

GoDaddy Stock Down 0.8%

Shares of NYSE GDDY opened at $90.52 on Thursday. The stock has a market capitalization of $12.23 billion, a P/E ratio of 15.63, a PEG ratio of 0.83 and a beta of 0.94. GoDaddy Inc. has a one year low of $87.13 and a one year high of $193.55. The firm’s 50 day simple moving average is $110.18 and its two-hundred day simple moving average is $127.69. 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 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.