Boston Trust Walden Corp Acquires 8,228 Shares of GoDaddy Inc. $GDDY

Boston Trust Walden Corp grew its stake in GoDaddy Inc. (NYSE:GDDY) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,403 shares of the technology company’s stock after acquiring an additional 8,228 shares during the period. Boston Trust Walden Corp owned 0.28% of GoDaddy worth $31,200,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. iA Global Asset Management Inc. raised its holdings in GoDaddy by 200.0% during the first quarter. iA Global Asset Management Inc. now owns 26,102 shares of the technology company’s stock worth $2,158,000 after acquiring an additional 17,402 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in GoDaddy in the first quarter valued at approximately $654,000. Apollon Wealth Management LLC increased its position in shares of GoDaddy by 78.1% during the 1st quarter. Apollon Wealth Management LLC now owns 4,255 shares of the technology company’s stock worth $352,000 after purchasing an additional 1,866 shares during the last quarter. Patton Fund Management Inc. increased its position in shares of GoDaddy by 129.9% during the 1st quarter. Patton Fund Management Inc. now owns 3,961 shares of the technology company’s stock worth $327,000 after purchasing an additional 2,238 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in shares of GoDaddy during the 1st quarter worth approximately $570,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 542 shares of GoDaddy 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 transaction, the chief accounting officer directly owned 19,995 shares of the company’s stock, valued at $1,796,750.70. The trade was a 2.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of the company’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 $752,397.78. Following the sale, the chief executive officer owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. The trade was a 1.58% decrease in their ownership of the stock. 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. Insiders sold a total of 16,751 shares of company stock valued at $1,480,228 over the last ninety days. Company insiders own 0.93% of the company’s stock.

GoDaddy Trading Down 0.1%

Shares of GoDaddy stock opened at $88.42 on Friday. The firm has a 50-day moving average of $84.81 and a 200-day moving average of $93.12. The stock has a market cap of $11.71 billion, a PE ratio of 13.99, a PEG ratio of 0.80 and a beta of 0.89. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $179.61. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67.

GoDaddy (NYSE:GDDY) last released 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 net margin of 17.32% and a return on equity of 366.90%. The business 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 earnings per share. GoDaddy’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that GoDaddy Inc. will post 7.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GDDY shares. Benchmark cut their price objective on GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Weiss Ratings restated a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. Piper Sandler started coverage on shares of GoDaddy in a research report on Thursday, March 12th. They set a “neutral” rating and a $93.00 price target on the stock. Wells Fargo & Company increased their price target on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, UBS Group initiated coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price objective for the company. One investment 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 company has an average rating of “Moderate Buy” and an average price target of $118.43.

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.