Hillsdale Investment Management Inc. Buys 6,770 Shares of GoDaddy Inc. $GDDY

Hillsdale Investment Management Inc. lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 138.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,670 shares of the technology company’s stock after buying an additional 6,770 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in GoDaddy were worth $965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets grew its position in shares of GoDaddy by 5.7% in the fourth quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock valued at $117,281,000 after purchasing an additional 50,959 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in GoDaddy during the 4th quarter worth approximately $9,303,000. Swedbank AB lifted its holdings in GoDaddy by 433.9% during the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock worth $80,125,000 after purchasing an additional 524,811 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 period. Finally, Norges Bank bought a new stake in GoDaddy in the 4th quarter valued at $250,020,000. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

GoDaddy Trading Up 5.5%

Shares of GoDaddy stock opened at $96.33 on Friday. The company has a market capitalization of $12.75 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.83 and a beta of 0.89. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 12-month low of $71.59 and a 12-month high of $171.42. The firm’s 50-day moving average price is $85.47 and its two-hundred day moving average price is $90.58.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm earned $1.51 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts forecast that GoDaddy Inc. will post 7.13 earnings per share for the current fiscal year.

Insider Activity

In other GoDaddy news, Director Sigal Zarmi sold 350 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 5,708 shares in the company, valued at $501,390.72. The trade was a 5.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 542 shares of the firm’s 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 completion of the sale, the chief accounting officer directly owned 19,995 shares in the company, valued at approximately $1,796,750.70. This represents a 2.64% 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 valued at $1,480,228. 0.93% of the stock is owned by insiders.

GoDaddy Company 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.