Mercer Global Advisors Inc. ADV Acquires 5,290 Shares of GoDaddy Inc. (NYSE:GDDY)

Mercer Global Advisors Inc. ADV increased its position in shares of GoDaddy Inc. (NYSE:GDDY – Get Rating) by 122.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,612 shares of the technology company’s stock after buying an additional 5,290 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in GoDaddy were worth $719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GDDY. Rice Hall James & Associates LLC increased its holdings in GoDaddy by 49.4% during the first quarter. Rice Hall James & Associates LLC now owns 211,463 shares of the technology company’s stock worth $17,699,000 after buying an additional 69,944 shares during the last quarter. HighTower Advisors LLC increased its holdings in GoDaddy by 7.9% during the first quarter. HighTower Advisors LLC now owns 16,959 shares of the technology company’s stock worth $1,422,000 after buying an additional 1,246 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of GoDaddy in the first quarter valued at $345,000. Rhumbline Advisers increased its holdings in shares of GoDaddy by 3.2% in the first quarter. Rhumbline Advisers now owns 138,312 shares of the technology company’s stock valued at $11,577,000 after purchasing an additional 4,315 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of GoDaddy by 30.8% in the first quarter. Raymond James Trust N.A. now owns 3,212 shares of the technology company’s stock valued at $269,000 after purchasing an additional 757 shares during the last quarter. 97.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GDDY has been the topic of several research reports. Barclays decreased their price objective on shares of GoDaddy from $100.00 to $98.00 in a report on Friday, May 5th. Raymond James upped their price objective on shares of GoDaddy from $88.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 15th. Robert W. Baird initiated coverage on shares of GoDaddy in a report on Tuesday, April 11th. They issued an “outperform” 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 report on Monday, February 13th. Finally, StockNews.com began coverage on shares of GoDaddy in a research report on Thursday. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.10.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $71.54 on Friday. GoDaddy Inc. has a 52-week low of $64.65 and a 52-week high of $85.32. The firm has a 50-day moving average of $74.34 and a 200-day moving average of $75.62. The stock has a market cap of $11.05 billion, a PE ratio of 34.23, a PEG ratio of 2.02 and a beta of 0.98.

GoDaddy (NYSE:GDDY – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.22). GoDaddy had a negative return on equity of 95.00% and a net margin of 8.03%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company earned $0.41 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts predict that GoDaddy Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 7,950 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $74.96, for a total transaction of $595,932.00. Following the completion of the sale, the chief executive officer now owns 280,245 shares of the company’s stock, valued at $21,007,165.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Nick Daddario sold 548 shares of the stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $74.96, for a total value of $41,078.08. Following the completion of the transaction, the chief accounting officer now owns 21,153 shares of the company’s stock, valued at $1,585,628.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 7,950 shares of the stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $74.96, for a total transaction of $595,932.00. Following the completion of the transaction, the chief executive officer now directly owns 280,245 shares of the company’s stock, valued at approximately $21,007,165.20. The disclosure for this sale can be found here. Insiders sold 21,211 shares of company stock valued at $1,601,336 over the last quarter. 0.37% of the stock is owned by company insiders.

GoDaddy 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. It operates through the Applications and Commerce (A and C) and Core Platform (Core) segments. The A and C segment consists of sales of products containing proprietary software, commerce products and third-party email and productivity solutions.