WCM Investment Management LLC Has $270.92 Million Stake in GoDaddy Inc. $GDDY

Key Points

• WCM Investment Management increased its GoDaddy stake by 1.0% in the first quarter, bringing its holding to 3.31 million shares worth about $270.9 million.
• Insider selling continued, with CFO Mark Mccaffrey and CAO Phontip Palitwanon both selling shares in June; insiders have sold 16,751 shares over the last three months.
• GoDaddy beat quarterly expectations, reporting EPS of $1.60 on revenue of $1.27 billion, while analysts currently rate the stock a Moderate Buy with a consensus target price of $118.43.

WCM Investment Management LLC raised its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,314,456 shares of the technology company's stock after purchasing an additional 33,509 shares during the quarter. WCM Investment Management LLC owned 2.49% of GoDaddy worth $270,924,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Sivia Capital Partners LLC grew its holdings in shares of GoDaddy by 90.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company's stock worth $589,000 after purchasing an additional 1,552 shares in the last quarter. Cerity Partners LLC raised its stake in shares of GoDaddy by 50.0% in the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company's stock valued at $4,896,000 after purchasing an additional 9,062 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of GoDaddy by 83.0% in the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company's stock valued at $28,016,000 after purchasing an additional 70,585 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in GoDaddy in the second quarter worth $152,000. Finally, Main Street Financial Solutions LLC lifted its position in GoDaddy by 1.0% in the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company's stock worth $2,185,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 3,958 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $355,665.88. Following the sale, the chief financial officer owned 109,228 shares in the company, valued at approximately $9,815,228.08. This represents 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 accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 542 shares of the firm's 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 owned 19,995 shares of the company's stock, valued at approximately $1,796,750.70. This trade represents a 2.64% decrease in their ownership of the stock. 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. Insiders sold a total of 16,751 shares of company stock worth $1,480,228 in the last three months. Company insiders own 0.93% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of GoDaddy from $154.00 to $124.00 and set an "overweight" rating for the company in a report on Thursday, June 18th. Wells Fargo & Company raised their price target on shares of GoDaddy from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Benchmark cut their target price on GoDaddy from $195.00 to $185.00 and set a "buy" rating for the company in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of GoDaddy in a research note on Tuesday, June 16th. Finally, UBS Group assumed coverage on GoDaddy in a research report on Tuesday, May 5th. They issued a "neutral" rating and a $100.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $118.43.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $94.35 on Monday. The stock has a market capitalization of $12.49 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 0.85 and a beta of 0.89. The firm's 50-day moving average price is $85.53 and its two-hundred day moving average price is $90.35. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 1-year low of $71.59 and a 1-year high of $171.42.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.GoDaddy's revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.51 EPS. On average, equities analysts predict that GoDaddy Inc. will post 7.15 earnings per share for the current fiscal year.

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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