WCM Investment Management LLC Purchases 33,509 Shares of GoDaddy Inc. $GDDY

WCM Investment Management LLC lifted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 1.0% in the first quarter, HoldingsChannel reports. The fund owned 3,314,456 shares of the technology company’s stock after buying an additional 33,509 shares during the period. WCM Investment Management LLC’s holdings in GoDaddy were worth $270,924,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GDDY. BNP Paribas Financial Markets boosted its stake in shares of GoDaddy by 5.7% in the 4th quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock valued at $117,281,000 after purchasing an additional 50,959 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of GoDaddy during the fourth quarter worth approximately $9,303,000. Swedbank AB lifted its holdings in GoDaddy by 433.9% in the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock valued at $80,125,000 after buying an additional 524,811 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in GoDaddy by 22,341.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 117,142 shares of the technology company’s stock valued at $14,535,000 after buying an additional 116,620 shares during the period. Finally, Norges Bank acquired a new stake in GoDaddy during the 4th quarter worth $250,020,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Benchmark reduced their price target on GoDaddy from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Wells Fargo & Company upped their price objective on GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. JPMorgan Chase & Co. cut their target price on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. UBS Group began coverage on GoDaddy in a report on Tuesday, May 5th. They set a “neutral” rating and a $100.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a research note on Tuesday, June 16th. One 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’s stock. According to data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus target price of $118.43.

GoDaddy Price Performance

GDDY opened at $94.35 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 12 month low of $71.59 and a 12 month high of $171.42. The company has a fifty day simple moving average of $85.53 and a 200 day simple moving average of $90.35. The stock has a market cap of $12.49 billion, a P/E ratio of 14.93, a P/E/G ratio of 0.85 and a beta of 0.89.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted $1.51 earnings per share. GoDaddy’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect that GoDaddy Inc. will post 7.15 EPS for the current year.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 8,373 shares of the company’s 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 $752,397.78. Following the completion of the transaction, the chief executive officer owned 521,747 shares in the company, valued at $46,884,185.42. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sigal Zarmi sold 350 shares of the firm’s stock in a transaction 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 sale, the director owned 5,708 shares in the company, valued at approximately $501,390.72. The trade was a 5.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 16,751 shares of company stock valued at $1,480,228. Corporate insiders own 0.93% of the company’s stock.

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.