Mediolanum International Funds Ltd Acquires 8,302 Shares of GoDaddy Inc. $GDDY

Mediolanum International Funds Ltd grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 115.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,470 shares of the technology company’s stock after purchasing an additional 8,302 shares during the period. Mediolanum International Funds Ltd’s holdings in GoDaddy were worth $1,265,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in GoDaddy in the 4th quarter worth about $25,000. Rachor Investment Advisory Services LLC purchased a new stake in GoDaddy in the 4th quarter valued at about $25,000. Activest Wealth Management boosted its position in GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after buying an additional 198 shares during the period. International Assets Investment Management LLC grew its stake in GoDaddy by 93.8% in the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after acquiring an additional 180 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after acquiring an additional 170 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,373 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78. Following the sale, the chief executive officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,958 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $355,665.88. Following the sale, the chief financial officer directly owned 109,228 shares in the company, valued at $9,815,228.08. This trade represents a 3.50% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is currently owned by corporate insiders.

GoDaddy Trading Down 2.6%

NYSE GDDY opened at $92.35 on Wednesday. GoDaddy Inc. has a one year low of $71.59 and a one year high of $171.42. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89. The company’s 50-day simple moving average is $85.78 and its two-hundred day simple moving average is $89.91.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company earned $1.51 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Equities analysts forecast that GoDaddy Inc. will post 7.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on GDDY shares. JPMorgan Chase & Co. decreased their price target on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Benchmark dropped their price objective on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. UBS Group started coverage on GoDaddy in a report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price objective on the stock. Wells Fargo & Company lifted their target price on GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price 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.