Envestnet Asset Management Inc. Has $121.68 Million Position in GoDaddy Inc. (NYSE:GDDY)

Envestnet Asset Management Inc. increased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 31.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 616,486 shares of the technology company's stock after purchasing an additional 147,511 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.44% of GoDaddy worth $121,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GDDY. Anchor Investment Management LLC acquired a new position in GoDaddy during the third quarter valued at $31,000. Versant Capital Management Inc purchased a new position in GoDaddy during the 4th quarter valued at about $43,000. Rakuten Securities Inc. grew its stake in GoDaddy by 311.3% during 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 in the last quarter. Friedenthal Financial acquired a new position in shares of GoDaddy in the 4th quarter valued at about $49,000. Finally, OFI Invest Asset Management purchased a new stake in shares of GoDaddy in the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Performance

Shares of GoDaddy stock traded up $3.06 on Friday, reaching $172.06. The stock had a trading volume of 2,360,607 shares, compared to its average volume of 1,457,891. 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 $180.85 and its two-hundred day moving average price is $185.53. The stock has a market cap of $24.32 billion, a P/E ratio of 26.68 and a beta of 1.19. GoDaddy Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $216.00.

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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 (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 net margin of 20.49% and a return on equity of 176.06%. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated 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 approximately $36,831,070.24. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $3,546,970 in the last 90 days. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GDDY. StockNews.com downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. B. Riley boosted their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 14th. Jefferies Financial Group cut their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a report on Monday, April 7th. Benchmark lifted their price objective on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, Raymond James upped 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. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, GoDaddy presently has an average rating of "Moderate Buy" and a consensus target price of $212.20.

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.