Neuberger Berman Group LLC Has $301.50 Million Position in GoDaddy Inc. (NYSE:GDDY)

Neuberger Berman Group LLC lessened its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,526,315 shares of the technology company's stock after selling 25,660 shares during the period. Neuberger Berman Group LLC owned about 1.09% of GoDaddy worth $301,502,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth about $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the 4th quarter valued at about $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 worth $43,000 after acquiring an additional 165 shares during the last quarter. Friedenthal Financial bought a new stake in shares of GoDaddy during the fourth quarter worth approximately $49,000. Finally, OFI Invest Asset Management acquired a new position in shares of GoDaddy in the fourth quarter valued at approximately $52,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Price Performance

GoDaddy stock traded up $2.00 during mid-day trading on Tuesday, reaching $173.65. The company had a trading volume of 1,127,584 shares, compared to its average volume of 1,457,360. The business has a fifty day simple moving average of $180.10 and a 200 day simple moving average of $185.65. The company has a market cap of $24.55 billion, a P/E ratio of 26.92 and a beta of 1.19. GoDaddy Inc. has a fifty-two week low of $119.76 and a fifty-two week 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.

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GoDaddy (NYSE:GDDY - Get Free Report) last posted 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 firm had revenue of $1.19 billion during 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%. On average, equities research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the transaction, the chief operating officer now directly owns 257,949 shares of the company's stock, valued at approximately $44,937,295.29. The trade was a 0.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $89,925.00. Following the completion of the transaction, the director now directly owns 21,621 shares in the company, valued at approximately $3,888,536.85. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $3,546,970 in the last ninety days. Company insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several research reports. StockNews.com cut GoDaddy from a "buy" rating to a "hold" rating in a report on Monday, February 17th. Benchmark lifted their target price on GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Wells Fargo & Company started coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price target on the stock. B. Riley boosted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, Barclays raised their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $212.20.

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.