GoDaddy Inc. (NYSE:GDDY) Shares Bought by Korea Investment CORP

Korea Investment CORP lifted its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 3.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,806 shares of the technology company's stock after buying an additional 4,281 shares during the quarter. Korea Investment CORP owned approximately 0.09% of GoDaddy worth $25,225,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Anchor Investment Management LLC bought a new stake in shares of GoDaddy in the third quarter worth about $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy during the fourth quarter valued at $43,000. Rakuten Securities Inc. lifted its position 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 purchasing an additional 165 shares during the last quarter. Friedenthal Financial purchased a new position in shares of GoDaddy in the 4th quarter worth $49,000. Finally, OFI Invest Asset Management bought a new stake in shares of GoDaddy in the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Stock Performance

GDDY traded up $0.29 during midday trading on Wednesday, hitting $181.01. 430,659 shares of the company were exchanged, compared to its average volume of 1,462,287. The company's 50 day simple moving average is $188.88 and its 200 day simple moving average is $184.81. The firm has a market capitalization of $25.59 billion, a price-to-earnings ratio of 28.06 and a beta of 1.25. GoDaddy Inc. has a 1-year low of $119.76 and a 1-year high of $216.00. 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 (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results 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). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. As a group, sell-side analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on GDDY. Morgan Stanley lifted their price target on GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Barclays lifted their target price on GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Piper Sandler boosted their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, Benchmark lifted their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $213.20.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the sale, the director now directly owns 22,621 shares in the company, valued at $4,698,381.70. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $597,030.00. Following the completion of the transaction, the chief executive officer now directly owns 333,153 shares of the company's stock, valued at $66,300,778.53. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock worth $3,816,029 in the last three months. Company insiders own 0.61% of the company's stock.

GoDaddy 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.