Stanley Laman Group Ltd. Purchases New Stake in GoDaddy Inc. $GDDY

Stanley Laman Group Ltd. acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 27,112 shares of the technology company’s stock, valued at approximately $3,710,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of GoDaddy by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 18,762,137 shares of the technology company’s stock worth $3,378,310,000 after purchasing an additional 627,923 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of GoDaddy by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,779,220 shares of the technology company’s stock valued at $677,726,000 after purchasing an additional 81,623 shares in the last quarter. WCM Investment Management LLC lifted its stake in shares of GoDaddy by 5.7% in the second quarter. WCM Investment Management LLC now owns 3,670,677 shares of the technology company’s stock valued at $660,979,000 after purchasing an additional 199,459 shares during the period. JPMorgan Chase & Co. boosted its holdings in GoDaddy by 16.5% during the second quarter. JPMorgan Chase & Co. now owns 2,843,056 shares of the technology company’s stock worth $511,921,000 after buying an additional 403,151 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in GoDaddy by 2.3% during the second quarter. Ameriprise Financial Inc. now owns 2,403,902 shares of the technology company’s stock worth $432,847,000 after buying an additional 54,438 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

GDDY stock opened at $118.64 on Monday. The stock’s 50 day moving average price is $127.85 and its 200 day moving average price is $143.49. The firm has a market cap of $16.03 billion, a P/E ratio of 20.49, a PEG ratio of 1.08 and a beta of 0.95. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57. GoDaddy Inc. has a 1 year low of $118.48 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a report on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. Wells Fargo & Company dropped their price objective on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. JPMorgan Chase & Co. reduced their price objective on GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Evercore ISI decreased their target price on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $181.14.

Insider Activity

In other GoDaddy news, CAO Phontip Palitwanon sold 2,397 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the transaction, the chief accounting officer directly owned 17,055 shares in the company, valued at approximately $2,190,544.20. This represents a 12.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the sale, the chief executive officer directly owned 399,133 shares in the company, valued at $51,065,076.02. This represents a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 14,115 shares of company stock worth $1,809,657. 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.