Mediolanum International Funds Ltd Invests $1.23 Million in GoDaddy Inc. $GDDY

Mediolanum International Funds Ltd bought a new stake in GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,653 shares of the technology company’s stock, valued at approximately $1,226,000.

Several other institutional investors and hedge funds have also modified their holdings of GDDY. Hemington Wealth Management lifted its holdings in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after purchasing an additional 85 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of GoDaddy by 14.0% in the 2nd quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock valued at $134,000 after acquiring an additional 92 shares during the period. NewSquare Capital LLC grew its holdings in GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after purchasing an additional 94 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of GoDaddy by 5.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 1,801 shares of the technology company’s stock worth $324,000 after acquiring an additional 96 shares during the period. Finally, MAI Capital Management boosted its position in GoDaddy by 9.7% during the second quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock worth $203,000 after purchasing an additional 100 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of GDDY stock opened at $93.98 on Wednesday. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57. The firm’s 50-day simple moving average is $117.92 and its two-hundred day simple moving average is $133.01. GoDaddy Inc. has a 52 week low of $93.28 and a 52 week high of $214.37. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 0.91 and a beta of 0.94.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GDDY shares. Weiss Ratings restated a “hold (c)” rating on shares of GoDaddy in a research note on Wednesday, January 28th. Cantor Fitzgerald cut their price target on GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Evercore ISI dropped their price target on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, October 31st. UBS Group cut their target price on GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Finally, Royal Bank Of Canada set a $70.00 price target on shares of GoDaddy in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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 on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the transaction, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at $51,065,076.02. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 3,317 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 value of $424,376.98. Following the completion of the transaction, the chief financial officer owned 66,816 shares of the company’s stock, valued at approximately $8,548,439.04. This represents a 4.73% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 13,615 shares of company stock worth $1,743,102. Corporate 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.