Cookson Peirce & Co. Inc. Acquires 1,706 Shares of GoDaddy Inc. (NYSE:GDDY)

Cookson Peirce & Co. Inc. increased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 56.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,715 shares of the technology company's stock after acquiring an additional 1,706 shares during the period. Cookson Peirce & Co. Inc.'s holdings in GoDaddy were worth $931,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State Street Corp raised its position in GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock worth $1,080,549,000 after acquiring an additional 147,105 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of GoDaddy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company's stock worth $535,153,000 after purchasing an additional 84,550 shares during the last quarter. WCM Investment Management LLC raised its holdings in shares of GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after purchasing an additional 3,356,678 shares in the last quarter. FMR LLC lifted its stake in GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock valued at $260,299,000 after purchasing an additional 274,014 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $214,584,000 after purchasing an additional 203,909 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

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Insider Activity

In other news, Director Brian Sharples sold 500 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $90,330.00. Following the sale, the director now owns 22,121 shares in the company, valued at approximately $3,996,379.86. This trade represents a 2.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $541,980.00. Following the transaction, the chief executive officer now directly owns 505,649 shares in the company, valued at $91,350,548.34. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,034 shares of company stock valued at $4,166,030 over the last 90 days. 0.61% of the stock is currently owned by company insiders.

GoDaddy Stock Up 2.0 %

Shares of GDDY stock traded up $3.39 on Friday, hitting $175.52. The company's stock had a trading volume of 1,885,520 shares, compared to its average volume of 1,331,842. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock has a market capitalization of $24.81 billion, a price-to-earnings ratio of 27.21 and a beta of 1.25. GoDaddy Inc. has a fifty-two week low of $113.01 and a fifty-two week high of $216.00. The firm's fifty day moving average price is $195.50 and its 200-day moving average price is $182.26.

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 the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GDDY shares. Morgan Stanley upped their price target on GoDaddy from $227.00 to $228.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. Barclays upped their target price on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a report on Friday, February 14th. Benchmark lifted their price target on GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. UBS Group upped their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, Piper Sandler raised their target price on shares of GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Seven 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's stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.20.

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.