Envestnet Portfolio Solutions Inc. Has $3.23 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Envestnet Portfolio Solutions Inc. grew its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 163.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,357 shares of the technology company's stock after acquiring an additional 10,140 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in GoDaddy were worth $3,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp lifted its position in shares of GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock valued at $1,080,549,000 after acquiring an additional 147,105 shares in the last quarter. Geode Capital Management LLC lifted its position in GoDaddy by 2.5% during the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company's stock worth $535,153,000 after buying an additional 84,550 shares during the period. WCM Investment Management LLC lifted its position 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 during the period. FMR LLC lifted its position in GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after buying an additional 274,014 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 buying an additional 203,909 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

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GoDaddy Stock Down 0.1 %

Shares of GDDY stock traded down $0.20 during trading hours on Friday, reaching $180.49. The company had a trading volume of 3,085,676 shares, compared to its average volume of 1,342,685. GoDaddy Inc. has a twelve month low of $118.39 and a twelve month high of $216.00. The stock's fifty day simple moving average is $191.37 and its 200 day simple moving average is $183.14. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company has a market capitalization of $25.51 billion, a P/E ratio of 27.98 and a beta of 1.25.

GoDaddy (NYSE:GDDY - Get Free Report) last released 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). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Raymond James increased their target price on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 21st. Barclays increased 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. B. Riley increased their target price on 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 target on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Finally, StockNews.com lowered GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $213.20.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the transaction, the chief executive officer now directly owns 333,153 shares in the company, valued at approximately $66,300,778.53. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $99,505.00. Following the transaction, the director now owns 23,121 shares in the company, valued at approximately $4,601,310.21. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock valued at $3,816,029 in the last quarter. Corporate insiders own 0.61% of the company's stock.

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.