JPMorgan Chase & Co. Acquires 53,811 Shares of GoDaddy Inc. $GDDY

JPMorgan Chase & Co. grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,896,867 shares of the technology company’s stock after buying an additional 53,811 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.14% of GoDaddy worth $396,378,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Hemington Wealth Management raised its holdings in shares of GoDaddy by 85.9% during the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after acquiring an additional 85 shares in the last quarter. NewSquare Capital LLC increased its position in GoDaddy by 170.9% during the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after purchasing an additional 94 shares during the period. Root Financial Partners LLC bought a new position in GoDaddy in the 3rd quarter worth $31,000. Bayforest Capital Ltd lifted its position in shares of GoDaddy by 141.5% in the 3rd quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock worth $49,000 after purchasing an additional 208 shares during the period. Finally, Mather Group LLC. bought a new stake in shares of GoDaddy during the 3rd quarter valued at about $61,000. 90.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the transaction, the chief executive officer directly owned 399,133 shares in the company, valued at $51,065,076.02. The trade was a 1.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $424,376.98. Following the sale, the chief financial officer owned 66,816 shares in the company, valued at approximately $8,548,439.04. This represents a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 13,615 shares of company stock valued at $1,743,102. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GDDY. UBS Group lowered their price objective on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. JPMorgan Chase & Co. dropped their price target on GoDaddy from $222.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Evercore lowered their price objective on GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. Finally, Jefferies Financial Group dropped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.21.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $90.52 on Thursday. The business has a fifty day moving average price of $110.18 and a 200-day moving average price of $127.69. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $12.23 billion, a PE ratio of 15.63, a PEG ratio of 0.83 and a beta of 0.94. GoDaddy Inc. has a 1-year low of $87.13 and a 1-year high of $193.55.

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.