Patton Fund Management Inc. Cuts Position in GoDaddy Inc. $GDDY

Patton Fund Management Inc. reduced its position in GoDaddy Inc. (NYSE:GDDY) by 89.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,478 shares of the technology company’s stock after selling 12,766 shares during the quarter. Patton Fund Management Inc.’s holdings in GoDaddy were worth $202,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. CX Institutional lifted its stake in GoDaddy by 13.1% during the second quarter. CX Institutional now owns 577 shares of the technology company’s stock worth $104,000 after purchasing an additional 67 shares during the last quarter. MAI Capital Management raised its holdings in shares of GoDaddy by 8.7% in the first quarter. MAI Capital Management now owns 1,027 shares of the technology company’s stock valued at $185,000 after buying an additional 82 shares during the last quarter. UMB Bank n.a. increased its position in GoDaddy by 13.1% in the 2nd quarter. UMB Bank n.a. now owns 795 shares of the technology company’s stock valued at $143,000 after acquiring an additional 92 shares during the period. Penserra Capital Management LLC lifted its stake in shares of GoDaddy by 14.0% in the 2nd quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock worth $134,000 after acquiring an additional 92 shares during the period. Finally, NewSquare Capital LLC increased its stake in shares of GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Up 0.4%

Shares of NYSE:GDDY opened at $126.63 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06. GoDaddy Inc. has a 52-week low of $121.94 and a 52-week high of $216.00. The company has a 50 day moving average of $128.78 and a two-hundred day moving average of $146.44. The company has a market capitalization of $17.11 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95.

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

Insiders Place Their Bets

In other GoDaddy news, CAO Phontip Palitwanon sold 2,397 shares of GoDaddy stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total transaction of $307,870.68. Following the completion of the sale, the chief accounting officer owned 17,055 shares of the company’s stock, valued at $2,190,544.20. This trade represents a 12.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $133.11, for a total value of $66,555.00. Following the sale, the director owned 19,957 shares of the company’s stock, valued at approximately $2,656,476.27. This represents a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 14,615 shares of company stock valued at $1,877,942. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

GDDY has been the subject of several recent analyst reports. Raymond James Financial reissued a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. Morgan Stanley set a $159.00 price target on GoDaddy in a report on Friday, October 31st. UBS Group lowered their target price on GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Evercore ISI decreased their price objective on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research report on Friday, October 31st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $150.00 target price on shares of GoDaddy in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.14.

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.