Congress Wealth Management LLC DE Purchases New Shares in GoDaddy Inc. (NYSE:GDDY)

Congress Wealth Management LLC DE acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 69,046 shares of the technology company's stock, valued at approximately $13,628,000.

Other large investors have also recently made changes to their positions in the company. WCM Investment Management LLC grew its holdings 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 worth $678,941,000 after buying an additional 3,356,678 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of GoDaddy in the fourth quarter valued at about $111,923,000. Amundi raised its holdings in shares of GoDaddy by 84.4% in the fourth quarter. Amundi now owns 931,874 shares of the technology company's stock valued at $183,710,000 after purchasing an additional 426,501 shares during the last quarter. AustralianSuper Pty Ltd lifted its position in shares of GoDaddy by 3,836.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company's stock valued at $70,750,000 after purchasing an additional 349,358 shares in the last quarter. Finally, FMR LLC grew its position in GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after purchasing an additional 274,014 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the transaction, the chief financial officer now directly owns 84,300 shares of the company's stock, valued at $16,776,543. The trade was a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the transaction, the chief operating officer now owns 257,949 shares of the company's stock, valued at approximately $44,937,295.29. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,480 shares of company stock worth $3,816,029. Corporate insiders own 0.61% of the company's stock.

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GoDaddy Stock Down 2.1 %

Shares of GDDY stock traded down $3.89 during trading hours on Friday, reaching $178.89. 1,270,179 shares of the company's stock were exchanged, compared to its average volume of 1,425,828. GoDaddy Inc. has a fifty-two week low of $118.39 and a fifty-two week high of $216.00. The stock's 50 day moving average is $189.80 and its 200-day moving average is $183.94. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The company has a market cap of $25.29 billion, a price-to-earnings ratio of 27.73 and a beta of 1.25.

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 analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. Analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the topic of several recent analyst reports. Piper Sandler boosted their target price on GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Morgan Stanley boosted their price objective on GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Jefferies Financial Group increased their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, UBS Group lifted their target price on shares of GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $213.20.

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.