LGT Fund Management Co Ltd. Takes $2.79 Million Position in GoDaddy Inc. (NYSE:GDDY)

LGT Fund Management Co Ltd. purchased a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 14,137 shares of the technology company's stock, valued at approximately $2,790,000.

A number of other hedge funds have also made changes to their positions in GDDY. WCM Investment Management LLC boosted its stake in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after acquiring an additional 3,356,678 shares in the last quarter. Congress Asset Management Co. purchased a new position in shares of GoDaddy in the fourth quarter worth approximately $111,923,000. Mizuho Securities USA LLC raised its holdings in shares of GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company's stock valued at $56,709,000 after acquiring an additional 350,839 shares during the period. AustralianSuper Pty Ltd lifted its position in shares of GoDaddy by 3,836.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company's stock valued at $70,750,000 after acquiring an additional 349,358 shares in the last quarter. Finally, FMR LLC boosted its stake in GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after purchasing an additional 274,014 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Price Performance

Shares of GoDaddy stock traded down $4.13 during trading on Thursday, hitting $172.17. 1,698,756 shares of the company's stock traded hands, compared to its average volume of 1,340,344. GoDaddy Inc. has a twelve month low of $109.16 and a twelve month high of $216.00. 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 company has a market cap of $24.34 billion, a PE ratio of 26.69 and a beta of 1.15. The firm's fifty day moving average price is $196.74 and its 200 day moving average price is $182.11.

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GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data 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). 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 the consensus estimate of $1.18 billion. Analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on GDDY. Royal Bank of Canada restated an "outperform" rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Robert W. Baird increased their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Barclays lifted their target price on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. StockNews.com lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Benchmark raised their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Seven equities 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $213.20.

Insider Buying and Selling at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the firm'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 $90,330.00. Following the completion of the sale, the director now directly owns 22,121 shares of the company's stock, valued at $3,996,379.86. This trade represents a 2.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the transaction, the chief executive officer now directly owns 330,153 shares in the company, valued at approximately $68,572,778.10. This represents a 0.90 % 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 worth $4,166,030 over the last ninety days. Corporate 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.