Massachusetts Financial Services Co. MA Sells 7,029 Shares of GoDaddy Inc. $GDDY

Massachusetts Financial Services Co. MA trimmed its stake in GoDaddy Inc. (NYSE:GDDY) by 2.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 241,520 shares of the technology company’s stock after selling 7,029 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in GoDaddy were worth $33,047,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GDDY. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of GoDaddy by 20.9% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,344 shares of the technology company’s stock valued at $17,888,000 after purchasing an additional 17,200 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in GoDaddy by 14.0% during the second quarter. Nomura Asset Management Co. Ltd. now owns 86,648 shares of the technology company’s stock valued at $15,602,000 after buying an additional 10,631 shares during the period. GDS Wealth Management boosted its holdings in shares of GoDaddy by 16.3% during the 2nd quarter. GDS Wealth Management now owns 59,940 shares of the technology company’s stock valued at $10,793,000 after buying an additional 8,388 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of GoDaddy during the 2nd quarter valued at $15,659,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of GoDaddy in the 2nd quarter worth about $470,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In related news, CAO Phontip Palitwanon sold 2,397 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the transaction, the chief accounting officer owned 17,055 shares of the company’s stock, valued at approximately $2,190,544.20. This trade represents a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 3,317 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total transaction of $424,376.98. Following the sale, the chief financial officer owned 66,816 shares of the company’s stock, valued at $8,548,439.04. This trade represents a 4.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 14,115 shares of company stock valued at $1,809,657. Company insiders own 0.70% of the company’s stock.

GoDaddy Trading Up 1.8%

NYSE:GDDY opened at $106.02 on Friday. The company has a market cap of $14.33 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 0.94 and a beta of 0.95. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06. The company has a 50 day simple moving average of $121.86 and a two-hundred day simple moving average of $137.43. GoDaddy Inc. has a 12 month low of $102.85 and a 12 month high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly 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. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $1.32 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research report on Friday, October 31st. UBS Group decreased their price objective on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Evercore ISI cut their target price on GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a research note on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a research note on Friday, October 31st. Finally, B. Riley lowered their price target on GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.21.

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.