Eurizon Capital SGR S.p.A. Acquires New Stake in GoDaddy Inc. $GDDY

Key Points

• Eurizon Capital SGR S.p.A. disclosed a new fourth-quarter stake in GoDaddy, buying 74,949 shares valued at about $9.3 million and representing 0.06% of the company.
• Analyst sentiment is mixed but generally constructive: GoDaddy has a consensus rating of “Moderate Buy” with an average price target of $120.57, though several firms recently cut their targets and issued neutral/hold views.
• GoDaddy reported solid quarterly results, topping EPS estimates at $1.60 versus $1.53 expected, while revenue rose 6.1% year over year to $1.27 billion.

Eurizon Capital SGR S.p.A. acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 74,949 shares of the technology company's stock, valued at approximately $9,303,000. Eurizon Capital SGR S.p.A. owned 0.06% of GoDaddy at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Rachor Investment Advisory Services LLC acquired a new position in shares of GoDaddy during the fourth quarter valued at approximately $25,000. Activest Wealth Management increased its stake in shares of GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company's stock valued at $25,000 after acquiring an additional 198 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in GoDaddy during the fourth quarter worth approximately $25,000. Brown Brothers Harriman & Co. boosted its holdings in GoDaddy by 145.6% during the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company's stock worth $35,000 after buying an additional 150 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company's stock worth $32,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

Analysts Set New Price Targets

GDDY has been the subject of a number of research reports. Evercore set a $95.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. Jefferies Financial Group reduced their target price on shares of GoDaddy from $140.00 to $100.00 and set a "hold" rating for the company in a report on Monday, February 23rd. Cantor Fitzgerald reduced their target price on shares of GoDaddy from $130.00 to $90.00 and set a "neutral" rating for the company in a report on Wednesday, February 25th. Barclays reduced their target price on shares of GoDaddy from $200.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, February 26th. Finally, UBS Group assumed coverage on shares of GoDaddy in a research note on Tuesday, May 5th. They issued a "neutral" rating and a $100.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.57.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the completion of the sale, the chief executive officer owned 530,120 shares of the company's stock, valued at $47,175,378.80. This trade represents a 6.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 1,310 shares of GoDaddy stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total transaction of $118,096.50. Following the sale, the chief accounting officer directly owned 20,349 shares of the company's stock, valued at $1,834,462.35. This trade represents a 6.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,296 shares of company stock valued at $5,446,506 in the last quarter. Company insiders own 0.93% of the company's stock.

GoDaddy Trading Up 0.2%

GoDaddy stock opened at $85.97 on Monday. The company has a 50 day moving average price of $85.28 and a 200 day moving average price of $100.93. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $183.34. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $11.38 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 0.77 and a beta of 0.90.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business posted $1.51 EPS. The company's revenue was up 6.1% on a year-over-year basis. Research analysts forecast that GoDaddy Inc. will post 7.17 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.