Board of the Pension Protection Fund Has $1.46 Million Stock Holdings in GoDaddy Inc. $GDDY

Board of the Pension Protection Fund increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 883.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,800 shares of the technology company’s stock after buying an additional 10,600 shares during the period. Board of the Pension Protection Fund’s holdings in GoDaddy were worth $1,464,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake 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 purchasing an additional 85,733 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of GoDaddy by 14.0% in the second quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock valued at $15,602,000 after purchasing an additional 10,631 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in GoDaddy in the 3rd quarter worth approximately $30,575,000. GDS Wealth Management lifted its holdings in GoDaddy by 16.3% during the 2nd quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock worth $10,793,000 after buying an additional 8,388 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in GoDaddy during the 2nd quarter worth $470,000. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Benchmark decreased their price objective on GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Raymond James Financial restated a “strong-buy” rating and set a $100.00 target price on shares of GoDaddy in a research report on Wednesday, February 25th. UBS Group decreased their price target on GoDaddy from $145.00 to $105.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Evercore set a $95.00 price objective on GoDaddy in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company dropped their price objective on GoDaddy from $145.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.57.

GoDaddy Price Performance

GDDY opened at $83.68 on Friday. The company has a fifty day moving average price of $94.73 and a two-hundred day moving average price of $119.22. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $193.55. The firm has a market capitalization of $11.16 billion, a PE ratio of 13.43, a P/E/G ratio of 0.74 and a beta of 0.96.

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

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 34,148 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the sale, the chief executive officer owned 530,120 shares in the company, valued at approximately $47,175,378.80. This represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 17,406 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $1,548,959.94. Following the completion of the transaction, the chief financial officer directly owned 113,003 shares in the company, valued at $10,056,136.97. The trade was a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 61,918 shares of company stock worth $5,500,469. Company insiders own 0.70% of the company’s stock.

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.