Stanley Laman Group Ltd. Invests $3.71 Million in GoDaddy Inc. $GDDY

Stanley Laman Group Ltd. bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,112 shares of the technology company’s stock, valued at approximately $3,710,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hedeker Wealth LLC raised its holdings in GoDaddy by 3.1% during the third quarter. Hedeker Wealth LLC now owns 57,206 shares of the technology company’s stock worth $7,827,000 after purchasing an additional 1,729 shares in the last quarter. Generali Asset Management SPA SGR boosted its holdings in shares of GoDaddy by 82.9% in the 3rd quarter. Generali Asset Management SPA SGR now owns 12,826 shares of the technology company’s stock valued at $1,755,000 after buying an additional 5,813 shares in the last quarter. Mather Group LLC. purchased a new position in shares of GoDaddy in the 3rd quarter valued at $61,000. Hennessy Advisors Inc. raised its stake in GoDaddy by 6.9% during the 3rd quarter. Hennessy Advisors Inc. now owns 14,116 shares of the technology company’s stock worth $1,931,000 after acquiring an additional 916 shares in the last quarter. Finally, Boston Trust Walden Corp purchased a new stake in GoDaddy in the third quarter valued at $41,764,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GDDY shares. Evercore ISI cut their target price on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, October 31st. UBS Group cut their price target on GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Citigroup reduced their price objective on GoDaddy from $214.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Wells Fargo & Company decreased their price objective on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a report on Monday, October 6th. Finally, Benchmark restated a “buy” rating on shares of GoDaddy in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.14.

Insider Activity

In other news, Director Brian Sharples sold 500 shares of the firm’s 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 sale, the director owned 19,957 shares in the company, valued at approximately $2,656,476.27. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total transaction of $307,870.68. Following the transaction, the chief accounting officer owned 17,055 shares in the company, valued at approximately $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 14,115 shares of company stock worth $1,809,657 over the last quarter. Insiders own 0.70% of the company’s stock.

GoDaddy Trading Down 4.4%

Shares of GDDY stock opened at $118.64 on Monday. The company has a market capitalization of $16.03 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.08 and a beta of 0.95. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. The business’s 50 day moving average is $127.85 and its two-hundred day moving average is $143.49. GoDaddy Inc. has a twelve month low of $118.48 and a twelve month high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the business earned $1.32 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

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.