United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Purchases Shares of 83,684 GoDaddy Inc. $GDDY

Key Points

• United Super Pty Ltd disclosed a new stake in GoDaddy, buying 83,684 shares in the fourth quarter worth about $10.4 million. The position represented roughly 0.06% of the company.
• GoDaddy reported better-than-expected quarterly earnings, with EPS of $1.60 versus estimates of $1.53 and revenue of $1.27 billion, up 6.1% from a year earlier.
• Insider activity showed both the CFO and CEO sold shares in March, while analysts currently rate the stock a Moderate Buy with an average price target of $120.57.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 83,684 shares of the technology company's stock, valued at approximately $10,384,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund owned 0.06% of GoDaddy at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Ilmarinen Mutual Pension Insurance Co boosted its position in shares of GoDaddy by 55.8% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 62,833 shares of the technology company's stock valued at $7,796,000 after acquiring an additional 22,500 shares during the period. AlphaQuest LLC boosted its position in shares of GoDaddy by 172.8% in the fourth quarter. AlphaQuest LLC now owns 30,829 shares of the technology company's stock valued at $3,825,000 after acquiring an additional 19,527 shares during the period. Harbour Investments Inc. boosted its position in shares of GoDaddy by 191.0% in the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company's stock valued at $32,000 after acquiring an additional 170 shares during the period. Allstate Corp boosted its position in shares of GoDaddy by 97.7% in the fourth quarter. Allstate Corp now owns 11,095 shares of the technology company's stock valued at $1,377,000 after acquiring an additional 5,484 shares during the period. Finally, Clearstead Advisors LLC lifted its position in GoDaddy by 14.4% in the fourth quarter. Clearstead Advisors LLC now owns 14,097 shares of the technology company's stock worth $1,749,000 after purchasing an additional 1,773 shares during the period. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $85.82 on Friday. GoDaddy Inc. has a twelve month low of $73.06 and a twelve month high of $183.34. The firm has a market cap of $11.36 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 0.79 and a beta of 0.92. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The business has a fifty day moving average of $85.24 and a 200-day moving average of $101.25.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company posted $1.51 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 17,406 shares of GoDaddy stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $1,548,959.94. Following the completion of the sale, the chief financial officer directly owned 113,003 shares in the company, valued at $10,056,136.97. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of GoDaddy stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the sale, the chief executive officer owned 530,120 shares of the company's stock, valued at approximately $47,175,378.80. The trade was a 6.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,946 shares of company stock valued at $5,502,965 in the last three months. Company insiders own 0.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Royal Bank Of Canada reduced their target price on GoDaddy from $200.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. Raymond James Financial reiterated a "strong-buy" rating and set a $100.00 price objective on shares of GoDaddy in a research note on Wednesday, February 25th. UBS Group started coverage on GoDaddy in a research note on Tuesday, May 5th. They set a "neutral" rating and a $100.00 price objective for the company. Cantor Fitzgerald dropped their price objective on GoDaddy from $130.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. Finally, Evercore set a $95.00 price objective on GoDaddy in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and an average price target 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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