GoDaddy Inc. (NYSE:GDDY) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 107.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,386,137 shares of the technology company's stock after purchasing an additional 719,000 shares during the quarter. Canada Pension Plan Investment Board owned about 0.99% of GoDaddy worth $273,582,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Anchor Investment Management LLC purchased a new stake in GoDaddy in the third quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy in the 4th quarter valued at $43,000. Rakuten Securities Inc. lifted its stake in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after acquiring an additional 165 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of GoDaddy during the fourth quarter worth about $49,000. Finally, OFI Invest Asset Management purchased a new position in shares of GoDaddy in the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $623,100.00. Following the transaction, the chief executive officer now directly owns 330,153 shares of the company's stock, valued at $68,572,778.10. This represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the 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 approximately $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock valued at $3,518,150. 0.61% of the stock is owned by company insiders.

GoDaddy Stock Performance

NYSE GDDY traded up $5.19 during trading on Tuesday, reaching $170.40. The company's stock had a trading volume of 555,310 shares, compared to its average volume of 1,547,437. The business's fifty day moving average price is $176.29 and its 200-day moving average price is $186.21. GoDaddy Inc. has a twelve month low of $120.59 and a twelve month high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The firm has a market cap of $24.09 billion, a price-to-earnings ratio of 26.43 and a beta of 1.19.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GDDY. UBS Group increased their target price on shares of GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Wells Fargo & Company assumed coverage on GoDaddy in a research report on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price target on the stock. Barclays upped their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Raymond James boosted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 21st. Finally, Benchmark raised their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $210.73.

About GoDaddy

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.