Marathon Trading Investment Management LLC Makes New Investment in GoDaddy Inc. $GDDY

Marathon Trading Investment Management LLC acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 11,116 shares of the technology company’s stock, valued at approximately $1,379,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sivia Capital Partners LLC grew its stake in GoDaddy by 90.3% during the second quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock valued at $589,000 after acquiring an additional 1,552 shares in the last quarter. Cerity Partners LLC lifted its stake in GoDaddy by 50.0% in the 2nd quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock worth $4,896,000 after purchasing an additional 9,062 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of GoDaddy by 83.0% during the 2nd 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 during the last quarter. Osterweis Capital Management Inc. bought a new position in shares of GoDaddy during the 2nd quarter valued at about $152,000. Finally, Main Street Financial Solutions LLC grew its position in shares of GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

NYSE:GDDY opened at $76.24 on Monday. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.69 and a beta of 0.90. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day simple moving average of $85.45 and a 200-day simple moving average of $97.78. GoDaddy Inc. has a 1 year low of $71.59 and a 1 year high of $181.49.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.07. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.GoDaddy’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 EPS. Equities analysts forecast that GoDaddy Inc. will post 7.14 EPS for the current year.

Insider Activity

In other news, CFO Mark Mccaffrey sold 3,958 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $355,665.88. Following the completion of the sale, the chief financial officer owned 109,228 shares in the company, valued at approximately $9,815,228.08. This trade represents a 3.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $752,397.78. Following the transaction, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. This represents a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on GDDY. UBS Group initiated coverage on GoDaddy in a research report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 target price on the stock. Royal Bank Of Canada cut their price target on GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Barclays decreased their price objective on GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Citigroup lowered their target price on GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating for the company in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.