Lbp Am Sa Acquires 37,983 Shares of GoDaddy Inc. (NYSE:GDDY)

LBP AM SA boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 395.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,598 shares of the technology company's stock after purchasing an additional 37,983 shares during the quarter. LBP AM SA's holdings in GoDaddy were worth $9,394,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. WCM Investment Management LLC boosted its position in shares of GoDaddy by 7,083.4% in the fourth 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 period. Congress Asset Management Co. bought a new stake in shares of GoDaddy in the fourth quarter valued at about $111,923,000. Amundi boosted its position 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 acquiring an additional 426,501 shares during the period. Mizuho Securities USA LLC boosted its position in shares of GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company's stock valued at $56,709,000 after acquiring an additional 350,839 shares during the period. Finally, AustralianSuper Pty Ltd boosted its position in shares of GoDaddy by 3,836.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company's stock valued at $70,750,000 after acquiring an additional 349,358 shares during the period. 90.28% of the stock is owned by institutional investors.

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Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total value of $200,570.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 480 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the completion of the sale, the chief financial officer now owns 83,254 shares in the company, valued at $16,758,197.66. The trade was a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,480 shares of company stock worth $3,816,029. Insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GDDY. Wells Fargo & Company began coverage on shares of GoDaddy in a research report on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 target price for the company. Robert W. Baird boosted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. StockNews.com cut shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Citigroup boosted their price target on GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Finally, Barclays boosted their price target on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research note 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $213.20.

GoDaddy Trading Up 1.8 %

Shares of NYSE:GDDY traded up $3.29 during midday trading on Wednesday, hitting $181.54. 1,005,156 shares of the stock were exchanged, compared to its average volume of 1,333,693. The stock has a market capitalization of $25.66 billion, a price-to-earnings ratio of 28.15 and a beta of 1.25. 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 business's 50-day moving average price is $192.25 and its 200 day moving average price is $182.91. GoDaddy Inc. has a 12 month low of $118.14 and a 12 month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate 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%. Analysts predict 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.