MetLife Investment Management LLC Decreases Holdings in GoDaddy Inc. (NYSE:GDDY)

MetLife Investment Management LLC decreased its position in shares of GoDaddy Inc. (NYSE:GDDY – Get Rating) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,113 shares of the technology company’s stock after selling 211 shares during the period. MetLife Investment Management LLC’s holdings in GoDaddy were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Achmea Investment Management B.V. acquired a new position in GoDaddy during the 1st quarter valued at approximately $31,000. Wipfli Financial Advisors LLC acquired a new position in GoDaddy during the 3rd quarter valued at approximately $33,000. Cullen Frost Bankers Inc. increased its stake in GoDaddy by 152.5% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 505 shares of the technology company’s stock valued at $36,000 after purchasing an additional 305 shares in the last quarter. Truvestments Capital LLC acquired a new position in GoDaddy during the 2nd quarter valued at approximately $41,000. Finally, Sentry Investment Management LLC acquired a new position in GoDaddy during the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 97.32% of the company’s stock.

GoDaddy Stock Performance

GDDY stock opened at $75.93 on Friday. The firm has a market cap of $11.68 billion, a PE ratio of 34.51, a P/E/G ratio of 1.81 and a beta of 0.97. The firm’s fifty day moving average is $77.99 and its 200 day moving average is $76.27. GoDaddy Inc. has a one year low of $64.65 and a one year high of $88.32.

GoDaddy (NYSE:GDDY – Get Rating) last released its quarterly earnings results on Tuesday, February 14th. The technology company reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. GoDaddy had a net margin of 8.61% and a negative return on equity of 93.48%. Research analysts predict that GoDaddy Inc. will post 2.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

GDDY has been the topic of a number of recent analyst reports. Evercore ISI upgraded shares of GoDaddy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $86.00 to $103.00 in a research note on Wednesday, January 18th. Jefferies Financial Group lowered shares of GoDaddy from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research note on Monday, January 9th. Citigroup began coverage on shares of GoDaddy in a research note on Tuesday, December 13th. They issued a “buy” rating and a $95.00 price objective on the stock. Benchmark reiterated a “buy” rating and issued a $100.00 price objective on shares of GoDaddy in a research note on Monday, February 13th. Finally, JPMorgan Chase & Co. began coverage on shares of GoDaddy in a research note on Friday, November 11th. They issued an “overweight” rating and a $89.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.89.

Insider Activity at GoDaddy

In related news, CAO Nick Daddario sold 806 shares of the firm’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $84.16, for a total transaction of $67,832.96. Following the sale, the chief accounting officer now owns 14,649 shares in the company, valued at $1,232,859.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 1,353 shares of the stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $74.47, for a total transaction of $100,757.91. Following the transaction, the chief executive officer now directly owns 214,186 shares of the company’s stock, valued at $15,950,431.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Nick Daddario sold 806 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $84.16, for a total transaction of $67,832.96. Following the transaction, the chief accounting officer now directly owns 14,649 shares in the company, valued at $1,232,859.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,542 shares of company stock worth $888,640. 0.37% of the stock is owned by company insiders.

GoDaddy Company Profile

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GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. The company was founded by Robert R. Parsons in January 1997 and is headquartered in Tempe, AZ.