GoDaddy Inc. $GDDY Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in GoDaddy Inc. (NYSE:GDDY) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,216,382 shares of the technology company’s stock after acquiring an additional 319,515 shares during the period. JPMorgan Chase & Co.’s holdings in GoDaddy were worth $399,089,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in GoDaddy in the 4th quarter valued at about $25,000. Rachor Investment Advisory Services LLC acquired a new stake in GoDaddy in the 4th quarter valued at about $25,000. Activest Wealth Management raised its holdings in GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after acquiring an additional 198 shares during the last quarter. Harbour Investments Inc. raised its holdings in GoDaddy by 191.0% in the 4th 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. Finally, Entrust Financial LLC acquired a new stake in GoDaddy in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 3,500 shares of GoDaddy stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $82.92, for a total value of $290,220.00. Following the completion of the sale, the chief financial officer owned 105,728 shares in the company, valued at approximately $8,766,965.76. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $752,397.78. Following the completion of the sale, the chief executive officer owned 521,747 shares of the company’s stock, valued at $46,884,185.42. This trade represents a 1.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,751 shares of company stock worth $1,480,228 over the last quarter. Company insiders own 0.93% of the company’s stock.

GoDaddy Stock Down 1.4%

Shares of NYSE GDDY opened at $80.42 on Thursday. The company has a 50 day simple moving average of $85.68 and a 200-day simple moving average of $98.49. The company has a market capitalization of $10.65 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.73 and a beta of 0.90. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $181.49.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $1.51 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that GoDaddy Inc. will post 7.17 earnings per share for the current year.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of recent analyst reports. UBS Group initiated coverage on shares of GoDaddy in a report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target for the company. Evercore set a $95.00 price target on shares of GoDaddy in a report on Wednesday, February 25th. Jefferies Financial Group cut their price target on shares of GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a report on Monday, February 23rd. Raymond James Financial restated a “strong-buy” rating and set a $100.00 price target on shares of GoDaddy in a report on Wednesday, February 25th. Finally, Cantor Fitzgerald cut their price target on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.57.

About GoDaddy

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.