Chevy Chase Trust Holdings LLC reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,786 shares of the technology company's stock after selling 1,913 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of GoDaddy worth $14,563,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Quent Capital LLC increased its position in GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock valued at $248,000 after purchasing an additional 53 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company's stock valued at $2,837,000 after buying an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company's stock valued at $296,000 after buying an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of GoDaddy by 13.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company's stock valued at $146,000 after buying an additional 88 shares in the last quarter. Finally, Avestar Capital LLC boosted its holdings in shares of GoDaddy by 4.5% during the 4th quarter. Avestar Capital LLC now owns 2,206 shares of the technology company's stock valued at $435,000 after buying an additional 96 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GDDY. Piper Sandler boosted their target price on shares of GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Citigroup boosted their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Barclays boosted their target price on shares of GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Royal Bank of Canada restated an "outperform" rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Finally, Benchmark upped their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $213.20.
Check Out Our Latest Research Report on GoDaddy
Insider Activity
In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the sale, the chief operating officer now directly owns 184,632 shares of the company's stock, valued at approximately $38,283,445.20. This represents a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the sale, the chief accounting officer now directly owns 23,059 shares of the company's stock, valued at $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,482 shares of company stock valued at $4,903,930 in the last quarter. 0.61% of the stock is currently owned by insiders.
GoDaddy Stock Performance
GDDY traded up $0.01 during midday trading on Thursday, hitting $176.56. 1,600,603 shares of the company traded hands, compared to its average volume of 1,332,414. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The firm has a market capitalization of $24.79 billion, a PE ratio of 27.37 and a beta of 1.15. The company's 50-day moving average is $202.67 and its 200 day moving average is $180.77. GoDaddy Inc. has a 52 week low of $108.02 and a 52 week high of $216.00.
GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly 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). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. On average, research analysts expect that GoDaddy Inc. will post 6.53 EPS for the current year.
About GoDaddy
(
Free Report)
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.
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