Arrowstreet Capital Limited Partnership Acquires 56,086 Shares of GoDaddy Inc. $GDDY

Arrowstreet Capital Limited Partnership raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,821,379 shares of the technology company’s stock after acquiring an additional 56,086 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in GoDaddy were worth $350,077,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GDDY. Sivia Capital Partners LLC grew its position in GoDaddy by 90.3% during the second quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock valued at $589,000 after acquiring an additional 1,552 shares during the last quarter. Cerity Partners LLC grew its position in GoDaddy by 50.0% during the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock valued at $4,896,000 after acquiring an additional 9,062 shares during the last quarter. Treasurer of the State of North Carolina grew its position in GoDaddy by 83.0% during the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock valued at $28,016,000 after acquiring an additional 70,585 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in GoDaddy during the second quarter valued at approximately $152,000. Finally, Main Street Financial Solutions LLC grew its position in GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after acquiring an additional 119 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Performance

Shares of GDDY stock opened at $76.24 on Monday. The stock has a fifty day moving average of $85.45 and a 200 day moving average of $97.78. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $181.49. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.69 and a beta of 0.90. 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 (NYSE:GDDY) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $1.51 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts expect that GoDaddy Inc. will post 7.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GDDY. JPMorgan Chase & Co. cut their target price on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. Royal Bank Of Canada cut their target price on shares of GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Benchmark cut their target price on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Finally, Cantor Fitzgerald cut their target price on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.57.

Insiders Place Their Bets

In related news, CAO Phontip Palitwanon sold 542 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was 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 owned 19,995 shares of the company’s stock, valued at $1,796,750.70. This trade represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,500 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $82.92, for a total value of $290,220.00. Following the completion of the sale, the chief financial officer directly owned 105,728 shares of the company’s stock, valued at $8,766,965.76. The trade was a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 16,751 shares of company stock worth $1,480,228. Insiders own 0.93% of the company’s stock.

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.