Alberta Investment Management Corp Acquires 7,900 Shares of GoDaddy Inc. (NYSE:GDDY)

Key Points

• Alberta Investment Management Corp significantly increased its stake in GoDaddy Inc. by purchasing 7,900 shares, raising its total holdings by 66.9% to 19,700 shares valued at approximately $3,549,000.
• GoDaddy's shares experienced a price drop, opening at $156.42, with a reported 12-month high of $216.00 and a PE ratio of 30.08.
• CFO Mark McCaffrey sold a substantial portion of his shares, decreasing his holdings by 32.68%, highlighting a trend of insider selling with a total of 64,257 shares sold in the last quarter.

Alberta Investment Management Corp grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 66.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,700 shares of the technology company's stock after buying an additional 7,900 shares during the quarter. Alberta Investment Management Corp's holdings in GoDaddy were worth $3,549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its holdings in shares of GoDaddy by 123.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after purchasing an additional 79 shares during the period. Park Square Financial Group LLC bought a new stake in shares of GoDaddy in the 1st quarter valued at about $27,000. Private Trust Co. NA raised its holdings in shares of GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after purchasing an additional 136 shares during the period. GW&K Investment Management LLC raised its holdings in shares of GoDaddy by 307.9% in the 1st quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock valued at $46,000 after purchasing an additional 194 shares during the period. Finally, City Holding Co. raised its holdings in shares of GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares during the period. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $156.42 on Friday. The company's 50 day moving average price is $174.54 and its two-hundred day moving average price is $181.49. GoDaddy Inc. has a 12-month low of $144.72 and a 12-month high of $216.00. The firm has a market cap of $22.29 billion, a PE ratio of 30.08 and a beta of 1.08. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company earned $2.76 EPS. The business's revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Royal Bank Of Canada reissued an "outperform" rating and issued a $225.00 price target on shares of GoDaddy in a report on Monday, June 23rd. Citigroup lowered their price target on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Jefferies Financial Group lowered their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Finally, Barclays lowered their price target on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

Insider Buying and Selling at GoDaddy

In related news, CFO Mark Mccaffrey sold 37,500 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the sale, the chief financial officer owned 77,250 shares in the company, valued at approximately $13,978,387.50. This trade represents a 32.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Phontip Palitwanon sold 2,173 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total transaction of $386,511.51. Following the sale, the chief accounting officer owned 21,198 shares in the company, valued at $3,770,488.26. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,257 shares of company stock worth $11,575,910. 0.61% of the stock is currently owned by company insiders.

GoDaddy Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.

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