Caprock Group LLC Takes $1.18 Million Position in GoDaddy Inc. $GDDY

Caprock Group LLC purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the third quarter, Holdings Channel reports. The firm purchased 7,947 shares of the technology company’s stock, valued at approximately $1,179,000.

A number of other hedge funds have also bought and sold shares of GDDY. ING Groep NV grew its stake in GoDaddy by 17.6% in the 3rd quarter. ING Groep NV now owns 188,198 shares of the technology company’s stock valued at $25,751,000 after purchasing an additional 28,149 shares during the period. Krilogy Financial LLC purchased a new position in shares of GoDaddy in the 3rd quarter worth about $403,000. Applied Finance Capital Management LLC grew its position in GoDaddy by 10.8% during the third quarter. Applied Finance Capital Management LLC now owns 3,584 shares of the technology company’s stock valued at $490,000 after buying an additional 348 shares during the period. Versor Investments LP bought a new stake in GoDaddy in the third quarter worth about $1,326,000. Finally, Wealthfront Advisers LLC boosted its stake in GoDaddy by 60.2% in the third quarter. Wealthfront Advisers LLC now owns 25,566 shares of the technology company’s stock valued at $3,498,000 after acquiring an additional 9,612 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, 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 owned 399,133 shares in the company, valued at $51,065,076.02. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 2,397 shares of the company’s 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 completion of the transaction, the chief accounting officer owned 17,055 shares of the company’s stock, valued at $2,190,544.20. The trade was a 12.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,615 shares of company stock worth $1,743,102 over the last three months. 0.70% of the stock is owned by insiders.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $89.04 on Friday. The stock’s 50-day simple moving average is $112.40 and its two-hundred day simple moving average is $129.17. GoDaddy Inc. has a twelve month low of $88.11 and a twelve month high of $195.70. The firm has a market capitalization of $12.03 billion, a P/E ratio of 15.38, a P/E/G ratio of 0.81 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Evercore decreased their price target on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research note on Friday, October 31st. Royal Bank Of Canada set a $70.00 target price on GoDaddy in a research note on Wednesday, January 7th. Raymond James Financial reiterated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Jefferies Financial Group dropped their price objective on shares of GoDaddy from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Finally, UBS Group reduced their target price on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $166.21.

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.