Allspring Global Investments Holdings LLC Boosts Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Allspring Global Investments Holdings LLC increased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 264,807 shares of the technology company's stock after purchasing an additional 31,708 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.19% of GoDaddy worth $52,673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quent Capital LLC lifted its stake in GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock worth $248,000 after purchasing an additional 53 shares during the last quarter. Axecap Investments LLC lifted its position in GoDaddy by 50.1% in the 4th quarter. Axecap Investments LLC now owns 18,969 shares of the technology company's stock worth $3,744,000 after buying an additional 6,334 shares during the last quarter. Angeles Wealth Management LLC purchased a new stake in GoDaddy in the fourth quarter worth approximately $212,000. WCM Investment Management LLC grew its position in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after acquiring an additional 3,356,678 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of GoDaddy by 36.9% during the fourth quarter. Empowered Funds LLC now owns 52,995 shares of the technology company's stock worth $10,460,000 after acquiring an additional 14,278 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Trading Down 14.1 %

NYSE:GDDY traded down $29.96 during trading hours on Monday, hitting $182.58. The company had a trading volume of 4,395,394 shares, compared to its average volume of 1,094,305. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 52 week low of $108.02 and a 52 week high of $216.00. The company has a market capitalization of $25.63 billion, a PE ratio of 14.11 and a beta of 1.15. The stock has a 50-day moving average price of $203.78 and a 200 day moving average price of $180.59.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. On average, equities research analysts predict that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of GoDaddy 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company'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 completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 23,482 shares of company stock worth $4,709,650 in the last quarter. 0.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

GDDY has been the subject of a number of research reports. Morgan Stanley upped their price objective on shares of GoDaddy from $227.00 to $228.00 and gave the company an "equal weight" rating in a research note on Friday. Wells Fargo & Company assumed coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price target for the company. B. Riley raised their price objective on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday. Citigroup boosted their target price on GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. increased their target price on GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $213.20.

GoDaddy 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.