National Pension Service Has $10.87 Million Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• National Pension Service cut its GoDaddy stake by 69.7% in the fourth quarter, leaving it with 87,582 shares worth about $10.87 million.
• GoDaddy reported better-than-expected Q1 results, earning $1.60 per share versus estimates of $1.53, while revenue rose 6.1% year over year to $1.27 billion.
• Insiders sold shares during the quarter, including CEO Amanpal Singh Bhutani and CFO Mark McCaffrey, while analysts currently rate the stock a Moderate Buy with a consensus price target of $120.57.

National Pension Service lowered its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 69.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 87,582 shares of the technology company's stock after selling 201,359 shares during the period. National Pension Service owned 0.06% of GoDaddy worth $10,867,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of GoDaddy in the 4th quarter worth approximately $152,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of GoDaddy in the 4th quarter worth approximately $10,384,000. Ilmarinen Mutual Pension Insurance Co lifted its position in shares of GoDaddy by 55.8% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 62,833 shares of the technology company's stock worth $7,796,000 after purchasing an additional 22,500 shares during the period. AlphaQuest LLC lifted its position in shares of GoDaddy by 172.8% in the 4th quarter. AlphaQuest LLC now owns 30,829 shares of the technology company's stock worth $3,825,000 after purchasing an additional 19,527 shares during the period. Finally, Harbour Investments Inc. lifted its position in shares of GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company's stock worth $32,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Up 0.2%

GoDaddy stock opened at $85.97 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $183.34. The firm's fifty day moving average is $85.28 and its 200 day moving average is $100.93. The company has a market capitalization of $11.38 billion, a PE ratio of 13.60, a PEG ratio of 0.77 and a beta of 0.90.

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

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 34,148 shares of the business's stock in a transaction on 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 transaction, the chief executive officer owned 530,120 shares in the company, valued at $47,175,378.80. The trade was a 6.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 17,406 shares of the business's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the sale, the chief financial officer owned 113,003 shares of the company's stock, valued at $10,056,136.97. This trade represents a 13.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 61,296 shares of company stock worth $5,446,506 in the last quarter. Company insiders own 0.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of GoDaddy from $140.00 to $100.00 and set a "hold" rating on the stock in a research report on Monday, February 23rd. JPMorgan Chase & Co. dropped their price target on shares of GoDaddy from $167.00 to $154.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Wells Fargo & Company boosted their price target on shares of GoDaddy from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Benchmark dropped their price target on shares of GoDaddy from $195.00 to $185.00 and set a "buy" rating on the stock in a research report on Tuesday, April 28th. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $100.00 price target on shares of GoDaddy in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, GoDaddy has a consensus rating of "Moderate Buy" and a consensus target price of $120.57.

GoDaddy Company 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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