M&T Bank Corp Has $2.83 Million Stock Position in GoDaddy Inc. $GDDY

Key Points

• M&T Bank boosted its stake in GoDaddy by 353.8% in Q4 to 22,779 shares worth about $2.83 million, and institutional investors now own 90.28% of the company with large positions from firms like Ameriprise, Two Sigma, UBS and others.
• GoDaddy beat Q4 EPS estimates with $1.80 vs. $1.58 and reported revenue of $1.27B (up 6.8% YoY); the stock trades at a PE of ~13.6 and carries an average analyst target of $125.57 with mixed recent price cuts and a consensus "Moderate Buy."
• Company insiders sold 61,918 shares in the last quarter (including CEO Amanpal Singh Bhutani's sale of 34,148 shares), totaling about $5.5 million, leaving insiders with just 0.70% ownership.

M&T Bank Corp lifted its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 353.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,779 shares of the technology company's stock after buying an additional 17,759 shares during the quarter. M&T Bank Corp's holdings in GoDaddy were worth $2,826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of GDDY. Ameriprise Financial Inc. increased its position in GoDaddy by 47.0% during the third 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 during the period. Two Sigma Investments LP increased its position in GoDaddy by 99.7% during the third 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 during the period. Victory Capital Management Inc. increased its position in GoDaddy by 318.6% during the third quarter. Victory Capital Management Inc. now owns 735,452 shares of the technology company's stock worth $100,632,000 after acquiring an additional 559,757 shares during the period. BNP Paribas Financial Markets increased its position in GoDaddy by 85.2% during the third quarter. BNP Paribas Financial Markets now owns 894,243 shares of the technology company's stock worth $122,359,000 after acquiring an additional 411,349 shares during the period. Finally, UBS Group AG increased its position in GoDaddy by 43.2% during the third quarter. UBS Group AG now owns 1,259,460 shares of the technology company's stock worth $172,332,000 after acquiring an additional 379,926 shares during the period. Institutional investors own 90.28% of the company's stock.

GoDaddy Trading Down 1.7%

Shares of GoDaddy stock opened at $84.54 on Tuesday. The firm has a market capitalization of $11.27 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.80 and a beta of 0.98. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61. The company's fifty day moving average price is $85.08 and its two-hundred day moving average price is $107.64. GoDaddy Inc. has a 52-week low of $73.06 and a 52-week high of $193.55.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The business's revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts expect that GoDaddy Inc. will post 6.97 EPS for the current year.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of research reports. Morgan Stanley dropped their target price on shares of GoDaddy from $159.00 to $145.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 15th. Citigroup dropped their target price on shares of GoDaddy from $195.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Benchmark dropped their target price on shares of GoDaddy from $240.00 to $210.00 and set a "buy" rating on the stock in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of GoDaddy in a research report on Wednesday, January 28th. Finally, Wells Fargo & Company dropped their target price on shares of GoDaddy from $145.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $125.57.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock in a transaction dated 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 transaction, the chief executive officer directly 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 document filed with the SEC, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 1,310 shares of the company's stock in a transaction dated Tuesday, March 10th. The stock was 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 in the company, valued at $1,834,462.35. This represents a 6.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 61,918 shares of company stock valued at $5,500,469. Company insiders own 0.70% of the company's stock.

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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