GoDaddy Inc. $GDDY Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 659,664 shares of the technology company’s stock after buying an additional 26,537 shares during the period. Hsbc Holdings PLC’s holdings in GoDaddy were worth $54,520,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in GDDY. BNP Paribas Financial Markets boosted its stake in shares of GoDaddy by 5.7% during the fourth quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock valued at $117,281,000 after acquiring an additional 50,959 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in GoDaddy in the 4th quarter valued at about $9,303,000. Northwestern Mutual Wealth Management Co. raised 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 last quarter. Swedbank AB lifted its holdings 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 in the last quarter. Finally, Norges Bank purchased a new position in GoDaddy in the 4th quarter valued at about $250,020,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GDDY. JPMorgan Chase & Co. cut their price objective on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. Benchmark cut their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Wells Fargo & Company increased their price target on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, UBS Group began coverage on GoDaddy in a report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price objective on the stock. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.43.

GoDaddy Trading Up 0.6%

Shares of GDDY stock opened at $94.89 on Tuesday. The firm has a market cap of $12.56 billion, a P/E ratio of 15.01, a PEG ratio of 0.85 and a beta of 0.89. GoDaddy Inc. has a 1-year low of $71.59 and a 1-year high of $171.42. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50-day simple moving average is $85.67 and its 200-day simple moving average is $90.14.

GoDaddy (NYSE:GDDY) last released its earnings results 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. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. GoDaddy’s revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts forecast that GoDaddy Inc. will post 7.15 EPS for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $48,704.12. Following the transaction, the chief accounting officer owned 19,995 shares in the company, valued at $1,796,750.70. This trade represents a 2.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $87.84, for a total transaction of $30,744.00. Following the sale, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,751 shares of company stock worth $1,480,228 in the last 90 days. Company insiders own 0.93% of the company’s stock.

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.