Goldman Sachs Group Inc. Acquires 123,993 Shares of GoDaddy Inc. $GDDY

Goldman Sachs Group Inc. increased its holdings in GoDaddy Inc. (NYSE:GDDY) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,456,110 shares of the technology company’s stock after acquiring an additional 123,993 shares during the period. Goldman Sachs Group Inc. owned about 1.08% of GoDaddy worth $180,674,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of GoDaddy by 130.5% during the third quarter. American Century Companies Inc. now owns 151,432 shares of the technology company’s stock valued at $20,720,000 after acquiring an additional 85,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in GoDaddy in the third quarter worth $30,575,000. BNP Paribas Financial Markets boosted its position in GoDaddy by 5.7% in the fourth quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock worth $117,281,000 after purchasing an additional 50,959 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in GoDaddy by 22,341.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 117,142 shares of the technology company’s stock valued at $14,535,000 after purchasing an additional 116,620 shares during the period. Finally, Swedbank AB grew its stake in GoDaddy by 433.9% in the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock valued at $80,125,000 after purchasing an additional 524,811 shares during the period. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GDDY. Barclays lowered their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Wells Fargo & Company raised their price objective on shares of GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Citigroup lowered their price objective on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 target price on shares of GoDaddy in a research note on Wednesday, February 25th. Finally, 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. One 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.57.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 8,373 shares of the firm’s stock in a transaction that occurred on 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 approximately $46,884,185.42. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the completion of the transaction, the chief accounting officer owned 19,995 shares of the company’s stock, valued at $1,796,750.70. This represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 14,561 shares of company stock worth $1,308,104. 0.93% of the stock is currently owned by company insiders.

GoDaddy Stock Up 0.3%

GDDY stock opened at $84.59 on Monday. The stock has a fifty day moving average of $85.70 and a 200-day moving average of $99.42. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $183.34. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.76 and a beta of 0.90. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating 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 return on equity of 366.90% and a net margin of 17.32%.The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.51 EPS. As a group, equities research analysts predict that GoDaddy Inc. will post 7.17 earnings per share for the current year.

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.