Pensionfund Sabic Buys Shares of 6,500 GoDaddy Inc. $GDDY

Pensionfund Sabic bought a new stake in GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,500 shares of the technology company’s stock, valued at approximately $807,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hemington Wealth Management increased its position 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 purchasing an additional 85 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of GoDaddy in the 3rd quarter valued at approximately $31,000. Brown Brothers Harriman & Co. grew its stake in shares of GoDaddy by 145.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after buying an additional 150 shares in the last quarter. Rossby Financial LCC increased its holdings in GoDaddy by 125.4% in the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock worth $38,000 after buying an additional 158 shares during the last quarter. Finally, Bayforest Capital Ltd increased its holdings in GoDaddy by 141.5% in the third quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock worth $49,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the subject of a number of analyst reports. Barclays reduced their target price on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Raymond James Financial restated a “strong-buy” rating and set a $100.00 price target on shares of GoDaddy in a research note on Wednesday, February 25th. Wells Fargo & Company cut their price target on shares of GoDaddy from $145.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Royal Bank Of Canada reduced their price objective on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Finally, Benchmark lowered their target price on shares of GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research report 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 issued a Hold rating to the stock. According to data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus target price of $125.57.

GoDaddy Stock Up 1.5%

Shares of GoDaddy stock opened at $81.52 on Thursday. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $193.55. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. The stock has a 50 day moving average price of $92.48 and a two-hundred day moving average price of $117.29. The stock has a market capitalization of $10.87 billion, a P/E ratio of 13.08, a PEG ratio of 0.71 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS 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 for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the firm posted $1.36 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity

In related news, 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 value of $3,038,830.52. Following the transaction, the chief executive officer owned 530,120 shares in the company, valued at $47,175,378.80. This trade represents a 6.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Leah Sweet sold 650 shares of the business’s stock in a transaction 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 directly owned 11,414 shares of the company’s stock, valued at approximately $991,420.04. This represents a 5.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 61,918 shares of company stock valued at $5,500,469. 0.70% of the stock is owned by corporate insiders.

About GoDaddy

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.