Lifeworks Advisors LLC Lowers Position in GoDaddy Inc. $GDDY

Lifeworks Advisors LLC decreased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 56.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,774 shares of the technology company’s stock after selling 28,975 shares during the period. Lifeworks Advisors LLC’s holdings in GoDaddy were worth $1,883,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of GDDY. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of GoDaddy during the 4th quarter valued at $25,000. Rachor Investment Advisory Services LLC purchased a new position in shares of GoDaddy in the 4th quarter worth $25,000. Activest Wealth Management boosted its holdings in GoDaddy by 6,600.0% in the fourth 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 GoDaddy by 93.8% in the first 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 during the last quarter. Finally, Harbour Investments Inc. grew its position in GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,373 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $752,397.78. Following the completion of the transaction, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at $46,884,185.42. This represents a 1.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $87.84, for a total value of $30,744.00. Following the sale, the director owned 5,708 shares of the company’s stock, valued at $501,390.72. This represents a 5.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is owned by corporate insiders.

GoDaddy Stock Up 0.2%

Shares of NYSE:GDDY opened at $89.07 on Monday. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 0.80 and a beta of 0.89. The company has a 50 day moving average of $85.06 and a two-hundred day moving average of $91.55. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $171.42. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 earnings per share. As a group, analysts forecast that GoDaddy Inc. will post 7.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. dropped their price target on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. UBS Group started coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 target price for the company. Wells Fargo & Company raised their price target 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 reduced their price target 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 given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and an average price target of $118.43.

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.