Ilmarinen Mutual Pension Insurance Co Grows Stock Holdings in GoDaddy Inc. $GDDY

Ilmarinen Mutual Pension Insurance Co increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 55.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,833 shares of the technology company’s stock after buying an additional 22,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in GoDaddy were worth $7,796,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GDDY. Ameriprise Financial Inc. grew its holdings in shares of GoDaddy by 47.0% during the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock worth $483,360,000 after buying an additional 1,128,646 shares during the last quarter. Two Sigma Investments LP boosted its holdings in GoDaddy by 99.7% in the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock valued at $223,183,000 after purchasing an additional 814,360 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in GoDaddy by 318.6% in the 3rd quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company’s stock valued at $100,632,000 after purchasing an additional 559,757 shares in the last quarter. Swedbank AB boosted 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, BNP Paribas Financial Markets boosted its holdings in GoDaddy by 85.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 894,243 shares of the technology company’s stock valued at $122,359,000 after purchasing an additional 411,349 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

GDDY stock opened at $85.82 on Friday. The firm has a 50 day moving average of $85.24 and a 200-day moving average of $101.25. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $183.34. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.79 and a beta of 0.92.

GoDaddy (NYSE:GDDY) last posted its quarterly 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 company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm earned $1.51 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts expect that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the completion of the sale, the chief executive officer directly owned 530,120 shares in the company, valued at approximately $47,175,378.80. This trade represents a 6.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $86.86, for a total transaction of $56,459.00. Following the sale, the director owned 11,414 shares of the company’s stock, valued at approximately $991,420.04. The trade was a 5.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,946 shares of company stock valued at $5,502,965 in the last 90 days. Insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of a number of analyst reports. Evercore set a $95.00 price objective on GoDaddy in a report on Wednesday, February 25th. Piper Sandler initiated coverage on GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price objective on the stock. Cantor Fitzgerald lowered their price objective on GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Benchmark lowered their price objective on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Finally, UBS Group initiated coverage on GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price objective on the stock. 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. According to data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $120.57.

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.