Edgestream Partners L.P. purchased a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,424 shares of the technology company's stock, valued at approximately $3,636,000.
Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock worth $1,080,549,000 after purchasing an additional 147,105 shares in the last quarter. Geode Capital Management LLC grew its position in shares of GoDaddy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company's stock worth $535,153,000 after acquiring an additional 84,550 shares in the last quarter. WCM Investment Management LLC increased its holdings in shares of GoDaddy by 7,083.4% in the 4th 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. FMR LLC raised its position in shares of GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock valued at $260,299,000 after acquiring an additional 274,014 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in GoDaddy by 17.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company's stock worth $214,584,000 after purchasing an additional 203,909 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.
GoDaddy Price Performance
NYSE GDDY traded up $2.04 on Wednesday, reaching $174.48. 1,591,936 shares of the stock traded hands, compared to its average volume of 1,340,974. GoDaddy Inc. has a 12 month low of $115.11 and a 12 month high of $216.00. 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's fifty day simple moving average is $194.46 and its 200 day simple moving average is $182.52. The company has a market cap of $24.66 billion, a price-to-earnings ratio of 27.05 and a beta of 1.25.
GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.
Analysts Set New Price Targets
GDDY has been the topic of a number of research reports. Wells Fargo & Company assumed coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 target price on the stock. StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. JPMorgan Chase & Co. increased their price target on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Jefferies Financial Group boosted their price objective on GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley increased their target price on GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $213.20.
Check Out Our Latest Report on GoDaddy
Insiders Place Their Bets
In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $90,330.00. Following the transaction, the director now directly owns 22,121 shares in the company, valued at approximately $3,996,379.86. This trade represents a 2.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,480 shares of company stock worth $3,849,169. 0.61% of the stock is owned by insiders.
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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