Franklin Resources Inc. Purchases 128,542 Shares of GoDaddy Inc. (NYSE:GDDY)

Franklin Resources Inc. boosted its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 30.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 546,444 shares of the technology company's stock after acquiring an additional 128,542 shares during the period. Franklin Resources Inc. owned 0.39% of GoDaddy worth $107,852,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GDDY. Anchor Investment Management LLC acquired a new position in GoDaddy in the third quarter valued at about $31,000. Versant Capital Management Inc bought a new stake in shares of GoDaddy in the 4th quarter valued at about $43,000. Rakuten Securities Inc. raised its position in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after acquiring an additional 165 shares during the period. Friedenthal Financial bought a new stake in GoDaddy in the fourth quarter valued at approximately $49,000. Finally, OFI Invest Asset Management acquired a new stake in GoDaddy in the fourth quarter worth $52,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the sale, the chief executive officer now directly owns 330,153 shares of the company's stock, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the transaction, the chief operating officer now directly owns 183,632 shares in the company, valued at $36,831,070.24. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,546,970 over the last three months. 0.61% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. B. Riley boosted their price target on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their price objective on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Raymond James upped their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 21st. UBS Group raised their price objective on GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a report on Monday, February 17th. 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $212.20.

GoDaddy Trading Down 1.7 %

GoDaddy stock traded down $2.74 during mid-day trading on Monday, hitting $161.68. 847,841 shares of the stock were exchanged, compared to its average volume of 1,431,587. The stock has a market capitalization of $22.86 billion, a price-to-earnings ratio of 25.03 and a beta of 1.19. GoDaddy Inc. has a 12 month low of $119.76 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 $186.96 and its two-hundred day simple moving average is $185.26.

GoDaddy (NYSE:GDDY - Get Free Report) last released 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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

GoDaddy Company 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.