Fifth Third Bancorp Has $2.86 Million Holdings in GoDaddy Inc. $GDDY

Fifth Third Bancorp increased its position in GoDaddy Inc. (NYSE:GDDY) by 1,328.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 34,551 shares of the technology company’s stock after buying an additional 32,133 shares during the period. Fifth Third Bancorp’s holdings in GoDaddy were worth $2,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets raised its position in shares of GoDaddy by 5.7% in the 4th quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock valued at $117,281,000 after acquiring an additional 50,959 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in GoDaddy during the fourth quarter valued at approximately $9,303,000. Northwestern Mutual Wealth Management Co. grew its holdings in GoDaddy by 22,341.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 117,142 shares of the technology company’s stock valued at $14,535,000 after purchasing an additional 116,620 shares during the period. Swedbank AB increased its stake in GoDaddy by 433.9% in the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock valued at $80,125,000 after purchasing an additional 524,811 shares in the last quarter. Finally, Norges Bank bought a new stake in GoDaddy in the fourth quarter valued at approximately $250,020,000. 90.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GDDY shares. Wells Fargo & Company lifted their price target on shares of GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Benchmark reduced their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. JPMorgan Chase & Co. decreased their target price on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Finally, UBS Group assumed coverage on GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $118.43.

GoDaddy Trading Up 0.6%

NYSE:GDDY opened at $94.89 on Tuesday. GoDaddy Inc. has a twelve month low of $71.59 and a twelve month high of $171.42. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The business has a 50 day moving average price of $85.67 and a two-hundred day moving average price of $90.14. The company has a market cap of $12.56 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.85 and a beta of 0.89.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business earned $1.51 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts expect that GoDaddy Inc. will post 7.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Amanpal Singh Bhutani sold 8,373 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $752,397.78. Following the completion of the sale, the chief executive officer owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. This represents a 1.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 542 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction 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. This represents a 2.64% 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. Over the last three months, insiders sold 16,751 shares of company stock valued at $1,480,228. 0.93% of the stock is currently owned by company insiders.

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.