Mediolanum International Funds Ltd Purchases 8,302 Shares of GoDaddy Inc. $GDDY

Mediolanum International Funds Ltd boosted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 115.8% in the first quarter, HoldingsChannel reports. The fund owned 15,470 shares of the technology company’s stock after purchasing an additional 8,302 shares during the quarter. Mediolanum International Funds Ltd’s holdings in GoDaddy were worth $1,265,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in GoDaddy in the fourth quarter worth $250,020,000. AQR Capital Management LLC boosted its position in shares of GoDaddy by 117.5% in the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock worth $370,991,000 after purchasing an additional 1,615,005 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of GoDaddy by 99.7% in the 3rd quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after purchasing an additional 814,360 shares in the last quarter. Swedbank AB grew its stake in GoDaddy by 433.9% during the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock worth $80,125,000 after buying an additional 524,811 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in GoDaddy by 67.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,256,998 shares of the technology company’s stock worth $155,968,000 after buying an additional 504,374 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

GoDaddy Trading Down 2.6%

GoDaddy stock opened at $92.35 on Wednesday. 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 52 week low of $71.59 and a 52 week high of $171.42. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 0.86 and a beta of 0.89. The stock has a 50-day moving average price of $85.78 and a 200 day moving average price of $89.91.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping the consensus estimate 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 prior year, the company earned $1.51 EPS. GoDaddy’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that GoDaddy Inc. will post 7.15 EPS for the current year.

Insider Buying and Selling at GoDaddy

In related news, Director Sigal Zarmi sold 350 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the transaction, the director owned 5,708 shares of the company’s stock, valued at $501,390.72. This trade represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 542 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $48,704.12. Following the transaction, the chief accounting officer owned 19,995 shares of the company’s stock, valued at $1,796,750.70. This 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 16,751 shares of company stock valued at $1,480,228 over the last quarter. Insiders own 0.93% of the company’s stock.

GoDaddy 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.