Kestra Advisory Services LLC has recently increased its position in GoDaddy Inc. by a staggering 38.1% during the fourth quarter of the recent fiscal year, according to the Securities and Exchange Commission (SEC). This shift means that the firm now holds 11,418 shares in the technology company, a significant increase from its previous holdings. These additional shares are worth $854,000 as of Kestra Advisory Services LLC’s most recent filing with the SEC.
GoDaddy specializes in domain name registration and web hosting services for businesses and individuals worldwide. Its offerings include website building tools along with hosting and security solutions to help individuals and organizations establish their online presence. The company operates through various segments including Applications and Commerce (A&C) as well as Core Platform (Core), which handle sales of proprietary software products, commerce products, third-party email and other productivity solutions.
Several equities research analysts have commented on GoDaddy Inc.’s ability to grow in this space. Robert W. Baird began coverage on shares of GoDaddy last April, issuing an “outperform” rating alongside a $95.00 price target for stock valuation moving forward. Evercore ISI also gave GoDaddy a favorable rating at “outperform,” but raised its price target even further from $86.00 to $103.00 earlier this year due to positive developments.
Raymond James wasn’t left behind either when it raised its price objective on GoDaddy from $88 to $94 while assigning a coveted “strong-buy” rating back in February 2017. Benchmark voiced similar views when it revealed a buy rating while setting its target for Go Daddy at $100 around the same period.
In contrast, some analysts have been more cautious about the potential of this market giant; Barclays dropped its anticipated targets from initial figures hovering around $104 down to $100 due to rising competition in parts of the broader IT sector. Despite these differing opinions, industry insiders and market watchers alike continue to stand by the consensus rating of “Moderate Buy” on GoDaddy Inc.’s lower estimates. With an average price target of $93.70, all eyes are on the tech firm as it moves into the next fiscal year with a more strategic growth plan in place.
Institutional Investors Make Moves on GoDaddy Shares as CEO and CAO Sell Stock
GoDaddy, an American public company that provides domain name registration and web hosting services, has recently seen several institutional investors incorporate positions in the firm or reduce their stakes. Hedge funds and other institutional investors own 97.32% of GoDaddy’s stock. For instance, Achmea Investment Management B.V. acquired holdings in the technology company during Q1, while Wipfli Financial Advisors LLC purchased a position in Q3. Allworth Financial LP boosted its stake during Q4, while Cullen Frost Bankers Inc. and Sentry Investment Management LLC also acquired new stakes. Meanwhile, CEO Amanpal Singh Bhutani sold shares in a transaction dated April 4th totalling $153,813.67. CAO Nick Daddario has also recently sold shares of the firm’s stock valued at $67,832.96.
GoDaddy offers website building, hosting and security tools to clients across two main business segments: Applications and Commerce (A&C) and Core Platform (Core). The A&C segment includes sales of products containing proprietary software as well as commerce products and third-party email and productivity solutions.
As of today (April 20th), GoDaddy’s shares are trading at $76.21 with a market capitalization of $11.72 billion, a PE ratio of 34.64, a P/E/G ratio of 1.91 and a beta of 0.98.
For FY16-Q4 ended February 14th 2017, GoDaddy reported earnings per share (EPS) for the quarter standing at $0.62 reaching analysts’ consensus estimates which were also pegged around $0.62 EPS for that period despite having negative return on equity (RoE) compounded by net margins which stand at just 8.61%. Analysts predict that GoDaddy would post about ~2.7 EPS for this fiscal year end.