GoDaddy Inc. $GDDY Shares Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co raised its position in GoDaddy Inc. (NYSE:GDDY) by 53.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,264 shares of the technology company’s stock after purchasing an additional 9,155 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in GoDaddy were worth $3,594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GDDY. Norges Bank acquired a new position in GoDaddy in the second quarter valued at approximately $341,588,000. Qube Research & Technologies Ltd raised its position 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 purchasing an additional 837,065 shares during the period. Vanguard Group Inc. lifted its stake in shares of GoDaddy by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 18,762,137 shares of the technology company’s stock valued at $3,378,310,000 after purchasing an additional 627,923 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of GoDaddy by 16.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,843,056 shares of the technology company’s stock worth $511,921,000 after purchasing an additional 403,151 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of GoDaddy during the 2nd quarter worth about $59,116,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GDDY. Barclays reduced their price objective on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Royal Bank Of Canada decreased their price objective on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. UBS Group decreased their price target on GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Finally, Citigroup dropped their price objective on GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.93.

Insiders Place Their Bets

In other GoDaddy news, CAO Phontip Palitwanon sold 2,397 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the sale, the chief accounting officer owned 17,055 shares of the company’s stock, valued at $2,190,544.20. This trade represents a 12.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by company insiders.

GoDaddy Stock Performance

Shares of GDDY stock opened at $89.34 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $193.55. The stock has a market capitalization of $12.07 billion, a PE ratio of 14.34, a P/E/G ratio of 0.81 and a beta of 0.96. The firm has a 50 day moving average of $103.34 and a two-hundred day moving average of $123.87.

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