Hillsdale Investment Management Inc. Buys 6,770 Shares of GoDaddy Inc. $GDDY

Hillsdale Investment Management Inc. increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 138.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,670 shares of the technology company’s stock after purchasing an additional 6,770 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in GoDaddy were worth $965,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of GoDaddy during the fourth quarter worth $25,000. Rachor Investment Advisory Services LLC acquired a new position in shares of GoDaddy during the fourth quarter worth $25,000. Activest Wealth Management lifted its stake in shares of GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of GoDaddy by 93.8% during the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock valued at $30,000 after acquiring an additional 180 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in GoDaddy by 191.0% during the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling

In other GoDaddy news, CAO Phontip Palitwanon sold 542 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the completion of the sale, the chief accounting officer owned 19,995 shares of the company’s stock, valued at approximately $1,796,750.70. This represents a 2.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,500 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $82.92, for a total transaction of $290,220.00. Following the sale, the chief financial officer directly owned 105,728 shares of the company’s stock, valued at $8,766,965.76. This represents a 3.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 16,751 shares of company stock valued at $1,480,228. Insiders own 0.93% of the company’s stock.

GoDaddy Stock Up 5.5%

Shares of GDDY opened at $96.33 on Friday. The company has a market capitalization of $12.75 billion, a PE ratio of 15.24, a PEG ratio of 0.83 and a beta of 0.89. GoDaddy Inc. has a 12 month low of $71.59 and a 12 month high of $171.42. The stock’s 50-day moving average price is $85.47 and its two-hundred day moving average price is $90.58. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate that GoDaddy Inc. will post 7.13 EPS for the current year.

Analysts Set New Price Targets

GDDY has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. UBS Group initiated coverage on GoDaddy in a report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. Wells Fargo & Company raised their price objective on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Benchmark cut their target price on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.43.

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.