Railway Pension Investments Ltd Acquires 23,300 Shares of GoDaddy Inc. $GDDY

Railway Pension Investments Ltd lifted its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 112.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,100 shares of the technology company’s stock after acquiring an additional 23,300 shares during the quarter. Railway Pension Investments Ltd’s holdings in GoDaddy were worth $6,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in GDDY. Bayforest Capital Ltd purchased a new stake in shares of GoDaddy in the 2nd quarter worth about $26,000. NewSquare Capital LLC raised its stake in GoDaddy by 170.9% in the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after buying an additional 94 shares in the last quarter. Banque Transatlantique SA purchased a new stake in GoDaddy in the first quarter worth about $36,000. Steph & Co. bought a new stake in GoDaddy during the 2nd quarter valued at approximately $55,000. Finally, Mather Group LLC. purchased a new position in shares of GoDaddy during the 3rd quarter worth approximately $61,000. Institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $424,376.98. Following the sale, the chief financial officer owned 66,816 shares of the company’s stock, valued at approximately $8,548,439.04. This trade represents a 4.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $133.11, for a total value of $66,555.00. Following the completion of the transaction, the director owned 19,957 shares in the company, valued at $2,656,476.27. This represents a 2.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,115 shares of company stock worth $1,809,657 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GDDY shares. Evercore ISI lowered their target price on GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research note on Friday, October 31st. UBS Group dropped their target price on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Citigroup dropped their target price on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $150.00 price target on shares of GoDaddy in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $181.14.

GoDaddy Stock Performance

GDDY stock opened at $118.64 on Monday. GoDaddy Inc. has a 1-year low of $118.48 and a 1-year high of $216.00. The business has a 50-day moving average price of $127.85 and a 200 day moving average price of $143.49. The company has a market capitalization of $16.03 billion, a P/E ratio of 20.49, a PEG ratio of 1.08 and a beta of 0.95. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm posted $1.32 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities research analysts forecast that GoDaddy Inc. will post 6.63 EPS 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.