Allstate Corp Makes New $768,000 Investment in GoDaddy Inc. $GDDY

Allstate Corp acquired a new stake in GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,611 shares of the technology company’s stock, valued at approximately $768,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hemington Wealth Management raised its stake in GoDaddy by 85.9% during the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after purchasing an additional 85 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in GoDaddy in the 2nd quarter worth $26,000. NewSquare Capital LLC increased its holdings in shares of GoDaddy by 170.9% during the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after purchasing an additional 94 shares during the period. Steph & Co. bought a new position in shares of GoDaddy during the 2nd quarter worth about $55,000. Finally, Mather Group LLC. acquired a new position in shares of GoDaddy during the third quarter valued at about $61,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Up 1.8%

Shares of NYSE GDDY opened at $106.02 on Friday. GoDaddy Inc. has a 52-week low of $102.85 and a 52-week high of $216.00. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57. The business has a fifty day moving average of $121.86 and a two-hundred day moving average of $137.43. The stock has a market cap of $14.33 billion, a PE ratio of 18.31, a PEG ratio of 0.94 and a beta of 0.95.

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

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GDDY. Citigroup decreased their target price on GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Jefferies Financial Group reduced their price objective on GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a report on Friday, October 31st. Benchmark restated a “buy” rating on shares of GoDaddy in a research report on Thursday, December 4th. Finally, Wells Fargo & Company cut their target price on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating for the company in a research note on Monday, October 6th. One 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. According to MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $166.21.

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.