Renaissance Technologies LLC Raises Stock Holdings in GoDaddy Inc. $GDDY

Renaissance Technologies LLC boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 27.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 553,300 shares of the technology company’s stock after purchasing an additional 117,800 shares during the quarter. Renaissance Technologies LLC owned about 0.42% of GoDaddy worth $45,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of GoDaddy during the fourth quarter valued at about $25,000. Rachor Investment Advisory Services LLC purchased a new position in shares of GoDaddy in the 4th quarter worth approximately $25,000. Activest Wealth Management raised its stake in shares of GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of GoDaddy by 93.8% during the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock worth $30,000 after acquiring an additional 180 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in GoDaddy by 191.0% during the fourth quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 8,373 shares of the company’s 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 transaction, the chief executive officer directly owned 521,747 shares of the company’s stock, valued at $46,884,185.42. This represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,500 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $82.92, for a total value of $290,220.00. Following the completion of the transaction, the chief financial officer owned 105,728 shares of the company’s stock, valued at $8,766,965.76. This trade represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders 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 corporate insiders.

Analyst Ratings Changes

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

GoDaddy Stock Up 3.5%

GDDY stock opened at $96.45 on Tuesday. The stock has a market capitalization of $12.77 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $167.09. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The firm has a 50 day moving average of $86.13 and a 200 day moving average of $89.10.

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