MTM Investment Management LLC Acquires New Holdings in GoDaddy Inc. $GDDY

MTM Investment Management LLC bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,082 shares of the technology company’s stock, valued at approximately $585,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in GoDaddy by 11.0% in the 4th quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company’s stock valued at $399,089,000 after acquiring an additional 319,515 shares during the period. AQR Capital Management LLC raised its stake in shares of GoDaddy by 117.5% during the fourth quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company’s stock valued at $370,991,000 after acquiring an additional 1,615,005 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of GoDaddy by 2.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,821,379 shares of the technology company’s stock valued at $350,077,000 after acquiring an additional 56,086 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of GoDaddy by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,733,028 shares of the technology company’s stock worth $339,116,000 after purchasing an additional 235,981 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of GoDaddy by 2.3% during the second quarter. Ameriprise Financial Inc. now owns 2,403,902 shares of the technology company’s stock worth $432,847,000 after purchasing an additional 54,438 shares during the period. 90.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

GoDaddy Trading Down 1.9%

NYSE:GDDY opened at $94.35 on Friday. The firm’s fifty day moving average is $85.53 and its 200-day moving average is $90.61. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $171.42. The firm has a market cap of $12.49 billion, a P/E ratio of 14.93, a P/E/G ratio of 0.87 and a beta of 0.89.

GoDaddy (NYSE:GDDY) last announced its 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. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. GoDaddy’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.51 earnings per share. Equities analysts expect that GoDaddy Inc. will post 7.15 earnings per share for the current year.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock in a transaction dated 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. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 5,708 shares in the company, valued at $501,390.72. This represents a 5.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is owned by insiders.

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.