WCM Investment Management LLC Boosts Stock Position in GoDaddy Inc. $GDDY

WCM Investment Management LLC increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 1.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,736,821 shares of the technology company’s stock after buying an additional 66,144 shares during the quarter. WCM Investment Management LLC owned about 2.70% of GoDaddy worth $529,395,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GDDY. Bayforest Capital Ltd acquired a new position in shares of GoDaddy during the 2nd quarter valued at about $26,000. NewSquare Capital LLC raised 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 purchasing an additional 94 shares during the period. Hemington Wealth Management boosted 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 purchasing an additional 85 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of GoDaddy in the 3rd quarter valued at approximately $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of GoDaddy during the 2nd quarter worth approximately $66,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the transaction, the chief executive officer directly owned 399,133 shares in the company, valued at approximately $51,065,076.02. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Phontip Palitwanon sold 2,397 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the sale, the chief accounting officer directly owned 17,055 shares in the company, valued at $2,190,544.20. This represents a 12.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 13,615 shares of company stock worth $1,743,102. Corporate insiders own 0.70% of the company’s stock.

GoDaddy Trading Down 0.4%

NYSE GDDY opened at $100.10 on Tuesday. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 0.91 and a beta of 0.94. The firm has a 50 day simple moving average of $118.57 and a 200-day simple moving average of $133.54. GoDaddy Inc. has a one year low of $98.28 and a one year high of $214.76.

Wall Street Analyst Weigh In

A number of research firms recently commented on GDDY. Cantor Fitzgerald decreased their price objective on GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Jefferies Financial Group lowered their price target on GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a report on Monday, January 5th. UBS Group reduced their price objective on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of GoDaddy in a research report on Friday, October 31st. Finally, Evercore ISI dropped their price target on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.21.

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.