Arrowstreet Capital Limited Partnership Grows Position in GoDaddy Inc. $GDDY

Key Points

• Arrowstreet Capital increased its GoDaddy stake by 2.0% in the fourth quarter, ending with 2,821,379 shares valued at about $350.1 million. The firm now owns roughly 2.09% of the company.
• GoDaddy insiders sold shares recently, including CAO Phontip Palitwanon and CFO Mark Mccaffrey, with the sales largely tied to tax withholding on vested equity awards. Insiders have sold 16,751 shares worth about $1.48 million over the past 90 days.
• Fundamentals and analyst sentiment remain mixed: GoDaddy beat quarterly EPS and revenue estimates in its latest report, but the stock has fallen below key moving averages and analysts’ average target price is about $120.57 versus a recent price near $76.24.

Arrowstreet Capital Limited Partnership raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,821,379 shares of the technology company's stock after purchasing an additional 56,086 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.09% of GoDaddy worth $350,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GDDY. Sivia Capital Partners LLC lifted its holdings in shares of GoDaddy by 90.3% in the second quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company's stock worth $589,000 after buying an additional 1,552 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of GoDaddy by 50.0% in the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company's stock worth $4,896,000 after buying an additional 9,062 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of GoDaddy by 83.0% in the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company's stock worth $28,016,000 after buying an additional 70,585 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of GoDaddy in the second quarter worth about $152,000. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of GoDaddy by 1.0% in the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company's stock worth $2,185,000 after buying an additional 119 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 542 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 19,995 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,958 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $355,665.88. Following the transaction, the chief financial officer owned 109,228 shares in the company, valued at $9,815,228.08. The trade was a 3.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,751 shares of company stock valued at $1,480,228 in the last ninety days. 0.93% of the stock is currently owned by company insiders.

GoDaddy Stock Up 0.0%

GDDY stock opened at $76.24 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The company's 50 day moving average is $85.45 and its 200 day moving average is $97.78. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 0.69 and a beta of 0.90. GoDaddy Inc. has a 1-year low of $71.59 and a 1-year high of $181.49.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.07. The company had revenue of $1.27 billion for the quarter, compared to analysts' expectations of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. GoDaddy's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.51 earnings per share. Sell-side analysts predict that GoDaddy Inc. will post 7.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GDDY shares. Raymond James Financial reissued a "strong-buy" rating and issued a $100.00 price target on shares of GoDaddy in a report on Wednesday, February 25th. Cantor Fitzgerald lowered their price target 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. JPMorgan Chase & Co. lowered their price target 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. Benchmark lowered their price target 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, Royal Bank Of Canada lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $120.57.

About GoDaddy

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.

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