GoDaddy Inc. $GDDY Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 1,328.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,551 shares of the technology company’s stock after buying an additional 32,133 shares during the period. Fifth Third Bancorp’s holdings in GoDaddy were worth $2,856,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Candriam S.C.A. grew its holdings in GoDaddy by 16.0% during the first quarter. Candriam S.C.A. now owns 17,432 shares of the technology company’s stock worth $1,441,000 after acquiring an additional 2,407 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in GoDaddy by 3.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,318 shares of the technology company’s stock valued at $357,000 after acquiring an additional 147 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of GoDaddy by 4.2% in the 1st quarter. Hsbc Holdings PLC now owns 659,664 shares of the technology company’s stock worth $54,520,000 after purchasing an additional 26,537 shares during the last quarter. Acuitas Investments LLC bought a new stake in shares of GoDaddy in the 1st quarter worth approximately $33,000. Finally, Praxis Investment Management Inc. lifted its stake in GoDaddy by 72.3% during the first quarter. Praxis Investment Management Inc. now owns 7,485 shares of the technology company’s stock valued at $619,000 after purchasing an additional 3,140 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of GDDY opened at $94.89 on Tuesday. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $171.42. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $12.56 billion, a PE ratio of 15.01, a PEG ratio of 0.85 and a beta of 0.89. The company’s 50 day moving average price is $85.67 and its 200 day moving average price is $90.14.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted $1.51 earnings per share. GoDaddy’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts expect that GoDaddy Inc. will post 7.15 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, Director Sigal Zarmi sold 350 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $87.84, for a total value of $30,744.00. Following the completion of the sale, the director directly owned 5,708 shares in the company, valued at approximately $501,390.72. This represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Amanpal Singh Bhutani sold 8,373 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 $752,397.78. Following the transaction, the chief executive officer directly owned 521,747 shares in the company, valued at $46,884,185.42. The trade was a 1.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 16,751 shares of company stock valued at $1,480,228 over the last three months. 0.93% of the stock is owned by insiders.

Analysts Set New Price Targets

GDDY has been the topic of several research reports. Wells Fargo & Company upped their price target on GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. reduced their price objective on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Weiss Ratings restated a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. 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 for the company. Finally, Benchmark dropped their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.43.

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.