Harvest Fund Management Co. Ltd Has $4.92 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Harvest Fund Management Co. Ltd grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 133.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,930 shares of the technology company's stock after purchasing an additional 14,240 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in GoDaddy were worth $4,917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GDDY. Anchor Investment Management LLC acquired a new position in GoDaddy during the third quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new position in GoDaddy in the 4th quarter valued at $43,000. Rakuten Securities Inc. grew its stake in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after buying an additional 165 shares during the last quarter. Huntington National Bank raised its holdings in GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company's stock worth $48,000 after acquiring an additional 230 shares during the period. Finally, Friedenthal Financial acquired a new position in GoDaddy during the 4th quarter worth $49,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00. Following the completion of the sale, the director now directly owns 23,121 shares of the company's stock, valued at $4,601,310.21. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 183,632 shares in the company, valued at approximately $36,831,070.24. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock worth $3,816,029 in the last quarter. 0.61% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on GDDY. Morgan Stanley raised their price target on GoDaddy from $227.00 to $228.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Jefferies Financial Group lifted their price target on GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Barclays upped their price target on GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Citigroup raised their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Finally, Raymond James upped their target price on shares of GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $213.20.

GoDaddy Price Performance

NYSE GDDY traded down $0.20 on Friday, reaching $180.49. The company's stock had a trading volume of 3,085,676 shares, compared to its average volume of 1,342,685. The firm has a market cap of $25.51 billion, a PE ratio of 27.98 and a beta of 1.25. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 52 week low of $118.39 and a 52 week high of $216.00. The business has a 50-day moving average price of $191.37 and a 200 day moving average price of $183.14.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its 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 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%. Sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS 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.