GoDaddy Inc. $GDDY Shares Sold by Hantz Financial Services Inc.

Key Points

• Hantz Financial Services cut its GoDaddy stake by 59% in the fourth quarter, while several other institutional investors either increased holdings or initiated new positions. Overall, institutions and hedge funds still own about 90.28% of the stock.
• GoDaddy executives sold shares recently, including CEO Amanpal Singh Bhutani and CFO Mark Mccaffrey, who together sold more than 51,000 shares. Insiders have sold 61,946 shares worth about $5.5 million over the last three months.
• Analysts remain cautiously positive on GDDY, with an average rating of “Moderate Buy” and an average target price of $120.57. The stock recently traded around $88.76, and the company reported quarterly earnings and revenue that both beat estimates.

Hantz Financial Services Inc. trimmed its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 59.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,492 shares of the technology company's stock after selling 33,838 shares during the period. Hantz Financial Services Inc.'s holdings in GoDaddy were worth $2,915,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Swedbank AB raised its holdings in GoDaddy by 433.9% in the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company's stock valued at $80,125,000 after acquiring an additional 524,811 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in GoDaddy in the 4th quarter valued at about $223,000. MQS Management LLC raised its holdings in GoDaddy by 15.2% in the 4th quarter. MQS Management LLC now owns 1,760 shares of the technology company's stock valued at $218,000 after acquiring an additional 232 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in GoDaddy by 208.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,214 shares of the technology company's stock valued at $275,000 after acquiring an additional 1,497 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in GoDaddy in the 4th quarter valued at about $319,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 34,148 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 17,406 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $1,548,959.94. Following the sale, the chief financial officer directly owned 113,003 shares of the company's stock, valued at approximately $10,056,136.97. This trade represents a 13.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 61,946 shares of company stock worth $5,502,965 in the last three months. 0.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several recent research reports. Evercore set a $95.00 price target on GoDaddy in a report on Wednesday, February 25th. Wells Fargo & Company boosted their price objective on GoDaddy from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $100.00 target price on shares of GoDaddy in a research note on Wednesday, February 25th. UBS Group assumed coverage on GoDaddy in a research note on Tuesday, May 5th. They issued a "neutral" rating and a $100.00 target price for the company. Finally, Barclays cut their target price on GoDaddy from $200.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $120.57.

GoDaddy Stock Down 1.9%

Shares of NYSE GDDY opened at $88.76 on Wednesday. The company has a 50 day simple moving average of $85.12 and a 200-day simple moving average of $101.89. The company has a market capitalization of $11.75 billion, a P/E ratio of 14.04, a P/E/G ratio of 0.81 and a beta of 0.92. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $184.71.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.07. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business's revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.51 EPS. On average, equities research analysts predict that GoDaddy Inc. will post 7.17 earnings per share for the current year.

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.

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