Rakuten Investment Management Inc. Invests $15.43 Million in GoDaddy Inc. $GDDY

Rakuten Investment Management Inc. purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 112,728 shares of the technology company’s stock, valued at approximately $15,425,000. Rakuten Investment Management Inc. owned about 0.08% of GoDaddy at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GDDY. Bayforest Capital Ltd purchased a new stake in shares of GoDaddy in the second quarter valued at approximately $26,000. NewSquare Capital LLC boosted its stake in GoDaddy by 170.9% during the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after buying an additional 94 shares during the last quarter. Hemington Wealth Management grew its holdings in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares in the last quarter. Root Financial Partners LLC purchased a new stake in GoDaddy in the 3rd quarter valued at $31,000. Finally, Steph & Co. acquired a new stake in shares of GoDaddy in the 2nd quarter worth $55,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

GDDY stock opened at $104.19 on Thursday. The business’s fifty day moving average price is $122.36 and its 200 day moving average price is $137.65. GoDaddy Inc. has a 12-month low of $102.85 and a 12-month high of $216.00. 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 market capitalization of $14.08 billion, a PE ratio of 17.99, a P/E/G ratio of 0.94 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.GoDaddy’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 3,317 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $424,376.98. Following the completion of the transaction, the chief financial officer owned 66,816 shares in the company, valued at $8,548,439.04. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $133.11, for a total value of $66,555.00. Following the sale, the director directly owned 19,957 shares in the company, valued at $2,656,476.27. This represents a 2.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 14,115 shares of company stock worth $1,809,657. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GDDY has been the subject of a number of analyst reports. Cantor Fitzgerald dropped their price objective on shares of GoDaddy from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Evercore ISI decreased their target price on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating on the stock in a report on Friday, October 31st. B. Riley dropped their price target on shares of GoDaddy from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Royal Bank Of Canada set a $70.00 price target on shares of GoDaddy in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.21.

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.