Northwestern Mutual Wealth Management Co. Boosts Stake in GoDaddy Inc. $GDDY

Northwestern Mutual Wealth Management Co. grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 22,341.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 117,142 shares of the technology company’s stock after purchasing an additional 116,620 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in GoDaddy were worth $14,535,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GDDY. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GoDaddy during the 4th quarter worth $25,000. Rachor Investment Advisory Services LLC purchased a new position in shares of GoDaddy during the 4th quarter worth $25,000. Activest Wealth Management lifted its stake in shares of GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after purchasing an additional 198 shares during the period. Root Financial Partners LLC purchased a new position in shares of GoDaddy during the 3rd quarter worth $31,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of GoDaddy by 145.6% during the 3rd 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 period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In related news, CAO Phontip Palitwanon sold 1,310 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total value of $118,096.50. Following the completion of the sale, the chief accounting officer directly owned 20,349 shares in the company, valued at approximately $1,834,462.35. This represents a 6.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 17,406 shares of the stock in a transaction 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 completion of the sale, the chief financial officer owned 113,003 shares of the company’s stock, valued at approximately $10,056,136.97. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,946 shares of company stock valued at $5,502,965 in the last 90 days. 0.93% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GDDY has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research note on Wednesday, January 28th. Benchmark reduced their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. JPMorgan Chase & Co. reduced their price target on GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Barclays reduced their price target on GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Finally, Jefferies Financial Group reduced their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a research note on Monday, February 23rd. One equities 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.57.

GoDaddy Trading Up 2.0%

GDDY stock opened at $92.27 on Thursday. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $187.41. The company has a market cap of $12.22 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.81 and a beta of 0.92. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The business has a fifty day simple moving average of $84.67 and a 200-day simple moving average of $103.13.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) 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 firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $1.51 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that GoDaddy Inc. will post 7.17 EPS for the current year.

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.