MTM Investment Management LLC Invests $585,000 in GoDaddy Inc. $GDDY

MTM Investment Management LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,082 shares of the technology company’s stock, valued at approximately $585,000.

A number of other institutional investors also recently modified their holdings of the stock. Sivia Capital Partners LLC grew its holdings in GoDaddy by 90.3% in the second quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after purchasing an additional 1,552 shares during the period. Cerity Partners LLC raised its holdings in shares of GoDaddy by 50.0% during the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock valued at $4,896,000 after purchasing an additional 9,062 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of GoDaddy by 83.0% during the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock valued at $28,016,000 after purchasing an additional 70,585 shares during the period. Osterweis Capital Management Inc. bought a new position in shares of GoDaddy during the 2nd quarter worth about $152,000. Finally, Main Street Financial Solutions LLC boosted its position in shares of GoDaddy by 1.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after purchasing an additional 119 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 8,373 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $89.86, for a total transaction 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. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,958 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 value of $355,665.88. Following the transaction, the chief financial officer directly owned 109,228 shares in the company, valued at approximately $9,815,228.08. The trade was a 3.50% 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 16,751 shares of company stock worth $1,480,228 over the last three months. Company insiders own 0.93% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $94.35 on Friday. GoDaddy Inc. has a fifty-two week low of $71.59 and a fifty-two week high of $171.42. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 0.87 and a beta of 0.89. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s 50-day simple moving average is $85.53 and its 200 day simple moving average is $90.61.

GoDaddy (NYSE:GDDY) last released 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 during the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.51 EPS. As a group, research analysts anticipate that GoDaddy Inc. will post 7.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GDDY has been the subject of several research reports. Benchmark reduced 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. Wells Fargo & Company increased their price target on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. reduced their price objective on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Finally, UBS Group initiated coverage on GoDaddy in a report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.43.

GoDaddy 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.