567,070 Shares in GoDaddy Inc. (NYSE:GDDY) Bought by Congress Asset Management Co.

Congress Asset Management Co. bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 567,070 shares of the technology company's stock, valued at approximately $111,923,000. Congress Asset Management Co. owned 0.40% of GoDaddy at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of GoDaddy in the third quarter valued at about $27,000. Anchor Investment Management LLC bought a new position in GoDaddy during the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy in the 4th quarter worth approximately $43,000. Friedenthal Financial purchased a new stake in GoDaddy in the 4th quarter worth approximately $49,000. Finally, Huntington National Bank grew its position in shares of GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company's stock worth $48,000 after buying an additional 230 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Performance

Shares of NYSE:GDDY traded down $4.63 during midday trading on Wednesday, reaching $176.45. 2,171,304 shares of the company's stock traded hands, compared to its average volume of 1,319,922. GoDaddy Inc. has a one year low of $108.02 and a one year high of $216.00. The stock has a 50 day moving average of $203.78 and a 200 day moving average of $180.59. The company has a market cap of $24.77 billion, a price-to-earnings ratio of 27.36 and a beta of 1.15. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (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 company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. As a group, equities research analysts anticipate that GoDaddy Inc. will post 6.69 EPS for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Citigroup increased their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Barclays lifted their price objective on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. B. Riley raised their target price on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $213.20.

Insider Activity at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $98,885.00. Following the transaction, the director now owns 23,621 shares of the company's stock, valued at approximately $4,671,525.17. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the sale, the chief accounting officer now owns 23,059 shares of the company's stock, valued at approximately $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 have sold a total of 23,482 shares of company stock worth $4,709,650 over the last quarter. Company insiders own 0.61% of the company's stock.

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.