MML Investors Services LLC Acquires 24,535 Shares of GoDaddy Inc. (NYSE:GDDY)

MML Investors Services LLC raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 77.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,317 shares of the technology company's stock after purchasing an additional 24,535 shares during the quarter. MML Investors Services LLC's holdings in GoDaddy were worth $11,115,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GDDY. WCM Investment Management LLC lifted 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 acquiring an additional 3,356,678 shares during the last quarter. Norges Bank bought a new stake in GoDaddy in the fourth quarter worth about $356,038,000. Canada Pension Plan Investment Board boosted its position in shares of GoDaddy by 107.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after buying an additional 719,000 shares during the period. Congress Asset Management Co. bought a new position in shares of GoDaddy during the fourth quarter valued at approximately $111,923,000. Finally, Amundi raised its holdings in shares of GoDaddy by 84.4% in the fourth quarter. Amundi now owns 931,874 shares of the technology company's stock worth $183,710,000 after buying an additional 426,501 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

Shares of GDDY stock opened at $169.99 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The company has a market cap of $24.03 billion, a PE ratio of 26.36 and a beta of 1.19. GoDaddy Inc. has a 12-month low of $120.59 and a 12-month high of $216.00. The business's fifty day simple moving average is $175.43 and its 200-day simple moving average is $186.10.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 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 business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. Analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Piper Sandler upped their price objective on GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Barclays raised their price target on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Raymond James boosted their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 21st. Morgan Stanley reduced their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Benchmark lifted their price target on shares of GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Eight research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $210.73.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the sale, the chief operating officer now directly owns 256,949 shares in the company, valued at $44,130,990.75. This trade represents a 0.39 % 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 business'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 completion of the sale, the chief executive officer now owns 330,153 shares of the company's stock, valued at $68,572,778.10. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,000 shares of company stock valued at $3,518,150. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.