GoDaddy Inc. (NYSE:GDDY) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd has reduced its stock position in GoDaddy Inc. by 75.8% in the first quarter, now holding 19,757 shares worth approximately $3.5 million.
• A number of brokerages have revised their price targets for GoDaddy, with Barclays lowering it to $235.00 while maintaining an "overweight" rating.
• GoDaddy reported earnings of $1.27 per share for the last quarter, missing estimates, and had revenue that was up 8.6% year-over-year.

Mediolanum International Funds Ltd lessened its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 75.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,757 shares of the technology company's stock after selling 61,957 shares during the quarter. Mediolanum International Funds Ltd's holdings in GoDaddy were worth $3,534,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of GoDaddy by 37.0% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 65,013 shares of the technology company's stock worth $11,711,000 after acquiring an additional 17,572 shares during the period. Equitable Trust Co. increased its holdings in GoDaddy by 1.0% during the 1st quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock worth $1,199,000 after purchasing an additional 64 shares during the period. Pacer Advisors Inc. increased its holdings in GoDaddy by 893.4% during the 1st quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company's stock worth $116,685,000 after purchasing an additional 582,539 shares during the period. Cetera Investment Advisers boosted its position in GoDaddy by 37.6% during the 1st quarter. Cetera Investment Advisers now owns 31,919 shares of the technology company's stock valued at $5,750,000 after acquiring an additional 8,719 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in GoDaddy by 38.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,952 shares of the technology company's stock valued at $712,000 after acquiring an additional 1,089 shares in the last quarter. Institutional investors own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Barclays decreased their price objective on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Morgan Stanley cut their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Jefferies Financial Group cut their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total value of $169,590.00. Following the transaction, the chief operating officer owned 253,949 shares of the company's stock, valued at $43,067,210.91. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 625 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $177.08, for a total value of $110,675.00. Following the transaction, the chief financial officer directly owned 73,459 shares in the company, valued at approximately $13,008,119.72. The trade was a 0.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,257 shares of company stock valued at $11,575,910. 0.61% of the stock is owned by company insiders.

GoDaddy Trading Down 0.8%

NYSE:GDDY traded down $1.36 during trading hours on Thursday, reaching $162.52. 560,156 shares of the stock were exchanged, compared to its average volume of 1,468,862. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91. The business has a 50-day moving average of $175.52 and a two-hundred day moving average of $182.11. GoDaddy Inc. has a twelve month low of $140.51 and a twelve month high of $216.00. The company has a market capitalization of $23.16 billion, a price-to-earnings ratio of 31.27 and a beta of 1.05.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.76 earnings per share. On average, equities analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.