Argent Capital Management LLC Increases Stake in GoDaddy Inc. (NYSE:GDDY)

Argent Capital Management LLC grew its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 46.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,554 shares of the technology company's stock after buying an additional 7,424 shares during the quarter. Argent Capital Management LLC's holdings in GoDaddy were worth $4,649,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in GoDaddy during the 3rd quarter valued at $27,000. ORG Wealth Partners LLC bought a new stake in GoDaddy during the third quarter valued at about $30,000. Anchor Investment Management LLC purchased a new position in GoDaddy in the third quarter valued at about $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the fourth quarter worth about $43,000. Finally, Huntington National Bank raised its holdings in GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company's stock worth $48,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 90.28% of the company's stock.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 84,300 shares of the company's stock, valued at $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the sale, the chief executive officer now directly owns 345,956 shares of the company's stock, valued at $58,047,957.24. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,003 shares of company stock valued at $4,462,363. Corporate insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

NYSE:GDDY traded up $1.62 during mid-day trading on Thursday, hitting $200.79. The company's stock had a trading volume of 1,185,912 shares, compared to its average volume of 1,086,852. The business's fifty day moving average is $197.87 and its two-hundred day moving average is $170.37. The stock has a market cap of $28.19 billion, a price-to-earnings ratio of 15.52 and a beta of 1.15. GoDaddy Inc. has a 1 year low of $103.64 and a 1 year high of $211.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company earned $0.89 earnings per share. GoDaddy's revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts anticipate that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Citigroup boosted their target price on GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Finally, Morgan Stanley boosted their price target on GoDaddy from $189.00 to $227.00 and gave the stock an "equal weight" rating in a research note on Monday. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $194.14.

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.