Wealthfront Advisers LLC Has $5.22 Million Position in GoDaddy Inc. $GDDY

Wealthfront Advisers LLC boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 111.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 63,123 shares of the technology company’s stock after buying an additional 33,240 shares during the period. Wealthfront Advisers LLC’s holdings in GoDaddy were worth $5,218,000 as of its most recent SEC filing.

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

Insider Transactions at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,500 shares of GoDaddy stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $82.92, for a total transaction of $290,220.00. Following the completion of the transaction, the chief financial officer directly owned 105,728 shares in the company, valued at $8,766,965.76. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $752,397.78. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 16,751 shares of company stock worth $1,480,228. 0.93% of the stock is currently owned by insiders.

GoDaddy Stock Down 1.9%

Shares of NYSE:GDDY opened at $94.35 on Friday. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 0.85 and a beta of 0.89. GoDaddy Inc. has a 1 year low of $71.59 and a 1 year high of $171.42. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The business’s 50-day moving average is $85.53 and its 200-day moving average is $90.61.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.07. The company had revenue of $1.27 billion during 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 previous year, the business posted $1.51 EPS. Equities research analysts predict that GoDaddy Inc. will post 7.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.