GoDaddy Inc. $GDDY Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd cut its position in shares of GoDaddy Inc. (NYSE:GDDY) by 86.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,694 shares of the technology company’s stock after selling 41,211 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in GoDaddy were worth $553,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GDDY. BNP Paribas Financial Markets grew its position in shares of GoDaddy by 5.7% during the 4th quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock valued at $117,281,000 after buying an additional 50,959 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in GoDaddy in the fourth quarter worth about $9,303,000. Northwestern Mutual Wealth Management Co. lifted its holdings in GoDaddy by 22,341.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 117,142 shares of the technology company’s stock worth $14,535,000 after acquiring an additional 116,620 shares during the last quarter. Swedbank AB boosted its stake in GoDaddy by 433.9% in the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock valued at $80,125,000 after acquiring an additional 524,811 shares during the period. Finally, Swiss National Bank boosted its stake in GoDaddy by 4.5% in the first quarter. Swiss National Bank now owns 396,500 shares of the technology company’s stock valued at $32,779,000 after acquiring an additional 17,100 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

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

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $96.45 on Tuesday. The firm’s 50 day moving average is $86.13 and its two-hundred day moving average is $89.10. The firm has a market capitalization of $12.77 billion, a P/E ratio of 15.26, a PEG ratio of 0.84 and a beta of 0.89. The company has a current ratio of 0.67, a quick 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 $167.09.

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

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 3,958 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction of $355,665.88. Following the completion of the transaction, the chief financial officer owned 109,228 shares in the company, valued at approximately $9,815,228.08. The trade was a 3.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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 value of $752,397.78. Following the completion of the transaction, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at approximately $46,884,185.42. The trade was a 1.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 16,751 shares of company stock worth $1,480,228. Insiders own 0.93% of the company’s stock.

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.