Massachusetts Financial Services Co. MA Has $8.93 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Massachusetts Financial Services Co. MA increased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,242 shares of the technology company's stock after buying an additional 5,457 shares during the period. Massachusetts Financial Services Co. MA's holdings in GoDaddy were worth $8,929,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy in the 3rd quarter valued at about $31,000. Versant Capital Management Inc bought a new stake in GoDaddy in the fourth quarter valued at about $43,000. Rakuten Securities Inc. raised its stake in GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after buying an additional 165 shares in the last quarter. Friedenthal Financial bought a new position in GoDaddy during the 4th quarter worth approximately $49,000. Finally, OFI Invest Asset Management bought a new position in GoDaddy during the 4th quarter worth approximately $52,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

GDDY stock traded up $3.06 during trading on Friday, reaching $172.06. 2,360,607 shares of the company's stock were exchanged, compared to its average volume of 1,457,459. GoDaddy Inc. has a 1-year low of $119.76 and a 1-year high of $216.00. The firm has a market cap of $24.32 billion, a PE ratio of 26.68 and a beta of 1.19. The company's fifty day moving average price is $180.85 and its 200-day moving average price is $185.33. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

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GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GDDY. Barclays upped their price target on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Raymond James increased their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 21st. Citigroup lifted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Jefferies Financial Group dropped their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Finally, Benchmark raised their target price on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $212.20.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $623,100.00. Following the completion of the sale, the chief executive officer now directly owns 330,153 shares in the company, valued at approximately $68,572,778.10. This trade represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. 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. 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.