Hel Ved Capital Management Ltd Acquires New Position in GoDaddy Inc. (NYSE:GDDY)

Hel Ved Capital Management Ltd purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,500 shares of the technology company's stock, valued at approximately $2,072,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WCM Investment Management LLC grew its holdings in GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after buying an additional 3,356,678 shares in the last quarter. Norges Bank bought a new stake in shares of GoDaddy in the fourth quarter valued at approximately $356,038,000. Congress Asset Management Co. acquired a new stake in GoDaddy during the fourth quarter worth approximately $111,923,000. Amundi increased its stake in GoDaddy by 84.4% during the 4th quarter. Amundi now owns 931,874 shares of the technology company's stock worth $183,710,000 after acquiring an additional 426,501 shares during the period. Finally, AustralianSuper Pty Ltd raised its holdings in GoDaddy by 3,836.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company's stock valued at $70,750,000 after acquiring an additional 349,358 shares in the last quarter. Institutional investors own 90.28% of the company's stock.

GoDaddy Stock Down 3.0 %

Shares of GoDaddy stock traded down $5.21 during trading on Thursday, reaching $168.91. 556,403 shares of the company traded hands, compared to its average volume of 1,540,178. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm has a market capitalization of $23.88 billion, a PE ratio of 26.19 and a beta of 1.19. The company has a 50 day moving average price of $182.49 and a 200-day moving average price of $185.15. GoDaddy Inc. has a 1-year low of $119.76 and a 1-year high of $216.00.

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GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. B. Riley lifted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Jefferies Financial Group decreased their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research report on Monday. Barclays increased their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Wells Fargo & Company started coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price target on the stock. Finally, Piper Sandler raised their target price on shares of GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy presently has an average rating of "Moderate Buy" and a consensus target price of $212.20.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the transaction, the director now directly owns 22,621 shares of the company's stock, valued at $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares in the company, valued at approximately $68,572,778.10. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,000 shares of company stock worth $3,546,970. Insiders own 0.61% of the company's stock.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.