LPL Financial LLC Grows Position in GoDaddy Inc. (NYSE:GDDY)

LPL Financial LLC grew its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,109 shares of the technology company's stock after acquiring an additional 12,328 shares during the quarter. LPL Financial LLC's holdings in GoDaddy were worth $13,048,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Anchor Investment Management LLC purchased a new position in shares of GoDaddy during the third quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new position in GoDaddy in the fourth quarter worth $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 purchasing an additional 165 shares during the period. Friedenthal Financial purchased a new stake in shares of GoDaddy during the 4th quarter valued at $49,000. Finally, OFI Invest Asset Management bought a new stake in shares of GoDaddy during the 4th quarter worth $52,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total value of $200,570.00. Following the sale, the chief operating officer now directly owns 183,632 shares of the company's stock, valued at $36,831,070.24. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the transaction, the chief executive officer now directly owns 330,153 shares of the company's stock, valued at $68,572,778.10. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,546,970 in the last ninety days. Company insiders own 0.61% of the company's stock.

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GoDaddy Price Performance

GDDY traded down $2.03 during midday trading on Monday, hitting $162.39. The stock had a trading volume of 3,396,614 shares, compared to its average volume of 1,441,498. GoDaddy Inc. has a 1 year low of $119.76 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The business has a fifty day moving average of $186.12 and a 200 day moving average of $185.27. The company has a market cap of $22.95 billion, a P/E ratio of 25.18 and a beta of 1.19.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the subject of a number of recent research reports. StockNews.com lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Jefferies Financial Group dropped their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday. B. Riley upped their price target on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Citigroup raised their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Finally, Morgan Stanley upped their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $212.20.

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.