Ilmarinen Mutual Pension Insurance Co Increases Stock Position in GoDaddy Inc. $GDDY

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its GoDaddy stake by 55.8% in the fourth quarter, adding 22,500 shares to bring its total to 62,833 shares worth about $7.8 million.
• GoDaddy reported better-than-expected quarterly results, with EPS of $1.60 versus the $1.53 estimate and revenue of $1.27 billion, up 6.1% from a year earlier.
• Analysts remain cautiously positive on GDDY: the stock has a consensus “Moderate Buy” rating and an average price target of $120.57, even as some firms trimmed their individual targets.

Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 55.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,833 shares of the technology company's stock after buying an additional 22,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in GoDaddy were worth $7,796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in GoDaddy by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company's stock worth $2,587,754,000 after acquiring an additional 150,045 shares in the last quarter. WCM Investment Management LLC lifted its stake in GoDaddy by 1.8% during the 3rd quarter. WCM Investment Management LLC now owns 3,736,821 shares of the technology company's stock worth $529,395,000 after acquiring an additional 66,144 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in GoDaddy by 47.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company's stock worth $483,360,000 after acquiring an additional 1,128,646 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in GoDaddy by 1.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,896,867 shares of the technology company's stock worth $396,378,000 after acquiring an additional 53,811 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in GoDaddy by 99.7% during the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company's stock worth $223,183,000 after acquiring an additional 814,360 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

Shares of GDDY stock opened at $85.82 on Friday. The stock's 50-day moving average is $85.24 and its two-hundred day moving average is $101.25. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.79 and a beta of 0.92. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year 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.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) 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 analyst estimates of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.51 earnings per share. Analysts predict that GoDaddy Inc. will post 7.17 earnings per share for the current year.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 34,148 shares of the firm's stock in a transaction dated 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 transaction, 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 filing with the SEC, which is available through this link. Also, CAO Phontip Palitwanon sold 1,310 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total value of $118,096.50. Following the transaction, the chief accounting officer directly owned 20,349 shares in the company, valued at approximately $1,834,462.35. This represents a 6.05% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 61,946 shares of company stock worth $5,502,965. 0.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James Financial reissued a "strong-buy" rating and set a $100.00 target price on shares of GoDaddy in a research note on Wednesday, February 25th. Benchmark reduced their price objective on GoDaddy from $195.00 to $185.00 and set a "buy" rating on the stock in a research note on Tuesday, April 28th. JPMorgan Chase & Co. reduced their price objective on GoDaddy from $167.00 to $154.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. Evercore set a $95.00 price objective on GoDaddy in a research note on Wednesday, February 25th. Finally, Piper Sandler assumed coverage on GoDaddy in a research note on Thursday, March 12th. They issued a "neutral" rating and a $93.00 price objective on the stock. One investment 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 company. According to MarketBeat, GoDaddy currently has a consensus rating of "Moderate Buy" and a consensus price target 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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