GoDaddy Inc. $GDDY Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 27.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 553,300 shares of the technology company’s stock after acquiring an additional 117,800 shares during the period. Renaissance Technologies LLC’s holdings in GoDaddy were worth $45,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GDDY. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in GoDaddy in the fourth quarter valued at $25,000. Rachor Investment Advisory Services LLC acquired a new stake in GoDaddy during the 4th quarter worth about $25,000. Activest Wealth Management raised its stake in shares of GoDaddy by 6,600.0% during the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock valued at $25,000 after buying an additional 198 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of GoDaddy by 93.8% during the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock valued at $30,000 after buying an additional 180 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of 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 buying an additional 170 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Benchmark lowered their target price on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. UBS Group assumed coverage on GoDaddy in a research report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 price target for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. Wells Fargo & Company upped their price objective on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. One equities research 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, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $118.43.

GoDaddy Trading Up 3.5%

GDDY stock opened at $96.45 on Tuesday. GoDaddy Inc. has a 52-week low of $71.59 and a 52-week high of $167.09. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The firm has a market cap of $12.77 billion, a P/E ratio of 15.26, a PEG ratio of 0.84 and a beta of 0.89. The company’s 50-day simple moving average is $86.13 and its 200-day simple moving average is $89.10.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results 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 firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.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 earned $1.51 EPS. As a group, equities analysts forecast that GoDaddy Inc. will post 7.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sigal Zarmi sold 350 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the completion of the transaction, the director directly owned 5,708 shares of the company’s stock, valued at $501,390.72. This represents a 5.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Mccaffrey sold 3,500 shares of the 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 transaction, the chief financial officer owned 105,728 shares in the company, valued at $8,766,965.76. This trade represents a 3.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,751 shares of company stock valued at $1,480,228 over the last ninety days. 0.93% of the stock is owned by corporate insiders.

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.