Lifeworks Advisors LLC Decreases Holdings in GoDaddy Inc. $GDDY

Key Points

• Lifeworks Advisors LLC cut its GoDaddy stake by 56% in the first quarter, selling 28,975 shares and ending with 22,774 shares worth about $1.88 million.
• GoDaddy reported better-than-expected quarterly results, with EPS of $1.60 topping estimates and revenue of $1.27 billion, up 6.1% year over year.
• Analysts remain mixed but generally constructive, with GoDaddy carrying a Moderate Buy rating and an average price target of $118.43; meanwhile, insiders have recently sold shares, including the CFO and CAO.

Lifeworks Advisors LLC lowered its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 56.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,774 shares of the technology company's stock after selling 28,975 shares during the period. Lifeworks Advisors LLC's holdings in GoDaddy were worth $1,883,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Procyon Advisors LLC grew its holdings in GoDaddy by 19.9% in the first quarter. Procyon Advisors LLC now owns 5,118 shares of the technology company's stock valued at $423,000 after purchasing an additional 850 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of GoDaddy by 93.8% during the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company's stock worth $30,000 after buying an additional 180 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of GoDaddy by 1,328.9% during the 1st quarter. Fifth Third Bancorp now owns 34,551 shares of the technology company's stock worth $2,856,000 after buying an additional 32,133 shares during the last quarter. Candriam S.C.A. boosted its position in shares of GoDaddy by 16.0% in the 1st quarter. Candriam S.C.A. now owns 17,432 shares of the technology company's stock worth $1,441,000 after buying an additional 2,407 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of GoDaddy by 3.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,318 shares of the technology company's stock worth $357,000 after buying an additional 147 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $89.07 on Monday. The company has a 50-day simple moving average of $85.06 and a 200-day simple moving average of $91.55. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $11.79 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.80 and a beta of 0.89. GoDaddy Inc. has a 12 month low of $71.59 and a 12 month high of $171.42.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted $1.51 earnings per share. The company's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that GoDaddy Inc. will post 7.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GDDY shares. Wells Fargo & Company raised their target price on shares of GoDaddy from $77.00 to $83.00 and gave the company an "equal weight" rating in a report on Friday, May 1st. Benchmark reduced 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. UBS Group started coverage on shares of GoDaddy in a research report on Tuesday, May 5th. They issued a "neutral" rating and a $100.00 price target on the stock. Weiss Ratings reissued a "hold (c-)" rating on shares of GoDaddy in a research note on Tuesday, June 16th. Finally, JPMorgan Chase & Co. cut their price objective on GoDaddy from $154.00 to $124.00 and set an "overweight" rating for the company in a research report on Thursday, June 18th. One investment 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's stock. According to data from MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and an average price target of $118.43.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 3,958 shares of GoDaddy stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total value of $355,665.88. Following the completion of the sale, the chief financial officer owned 109,228 shares of the company's stock, valued at $9,815,228.08. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 542 shares of GoDaddy stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $48,704.12. Following the completion of the sale, the chief accounting officer directly owned 19,995 shares of the company's stock, valued at approximately $1,796,750.70. This represents a 2.64% decrease in their position. 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. Over the last 90 days, insiders have sold 16,751 shares of company stock valued at $1,480,228. Insiders own 0.93% of the company's stock.

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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