Pensionfund Sabic Invests $807,000 in GoDaddy Inc. $GDDY

Pensionfund Sabic acquired a new stake in GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,500 shares of the technology company’s stock, valued at approximately $807,000.

Several other hedge funds and other institutional investors have also modified their holdings of GDDY. Norges Bank acquired a new position in shares of GoDaddy in the 2nd quarter valued at $341,588,000. Ameriprise Financial Inc. boosted its position in shares of GoDaddy by 47.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock valued at $483,360,000 after acquiring an additional 1,128,646 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in GoDaddy by 2,289.5% in the second quarter. Qube Research & Technologies Ltd now owns 873,626 shares of the technology company’s stock valued at $157,305,000 after acquiring an additional 837,065 shares during the period. Two Sigma Investments LP increased its stake in GoDaddy by 99.7% in the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after acquiring an additional 814,360 shares during the period. Finally, Victory Capital Management Inc. raised its position in GoDaddy by 318.6% in the third quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock worth $100,632,000 after purchasing an additional 559,757 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $81.52 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 0.71 and a beta of 0.96. GoDaddy Inc. has a 1-year low of $73.06 and a 1-year high of $193.55. The firm’s 50-day moving average price is $92.48 and its two-hundred day moving average price is $117.29.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.22. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. GoDaddy’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. On average, equities analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on GDDY. Barclays cut their price target 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. Piper Sandler began coverage on GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 target price for the company. UBS Group cut their target price on GoDaddy from $145.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Citigroup decreased their price target on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.57.

Insiders Place Their Bets

In other news, Director Leah Sweet sold 650 shares of the 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 sale, the director owned 11,414 shares in the company, valued at approximately $991,420.04. This represents a 5.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Phontip Palitwanon sold 1,310 shares of GoDaddy stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total value of $118,096.50. Following the completion of the transaction, the chief accounting officer directly owned 20,349 shares of the company’s stock, valued at $1,834,462.35. This represents a 6.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 61,918 shares of company stock worth $5,500,469. 0.70% of the stock is owned by company insiders.

GoDaddy 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.