HighTower Advisors LLC Grows Holdings in GoDaddy Inc. (NYSE:GDDY)

HighTower Advisors LLC raised its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 25.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,604 shares of the technology company's stock after acquiring an additional 4,219 shares during the quarter. HighTower Advisors LLC's holdings in GoDaddy were worth $4,067,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Quent Capital LLC increased its holdings in GoDaddy by 4.4% in the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock worth $248,000 after purchasing an additional 53 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock worth $283,000 after purchasing an additional 64 shares during the last quarter. New York Life Investment Management LLC increased its stake in shares of GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock valued at $3,708,000 after buying an additional 71 shares during the period. Metis Global Partners LLC raised its holdings in GoDaddy by 1.1% in the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company's stock valued at $1,294,000 after buying an additional 74 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in GoDaddy by 13.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company's stock worth $146,000 after buying an additional 88 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group upped their price target on shares of GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Barclays raised their target price on GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Piper Sandler lifted their target price on GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Benchmark increased their price target on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GoDaddy presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.20.

Insider Activity

In other news, CFO Mark Mccaffrey sold 5,500 shares of the business's 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Sharples sold 500 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $99,505.00. Following the completion of the transaction, the director now directly owns 23,121 shares in the company, valued at approximately $4,601,310.21. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock worth $3,816,029 over the last quarter. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Up 1.8 %

NYSE:GDDY traded up $3.32 during trading hours on Monday, reaching $183.65. The company had a trading volume of 1,166,141 shares, compared to its average volume of 1,341,976. GoDaddy Inc. has a twelve month low of $118.39 and a twelve 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 has a market cap of $25.96 billion, a price-to-earnings ratio of 28.47 and a beta of 1.25. The business's 50-day simple moving average is $191.37 and its two-hundred day simple moving average is $183.32.

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 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. On average, equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.