Norden Group LLC Invests $825,000 in GoDaddy Inc. (NYSE:GDDY)

Norden Group LLC bought a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,179 shares of the technology company's stock, valued at approximately $825,000.

Several other institutional investors have also recently made changes to their positions in GDDY. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy in the third quarter worth $27,000. Anchor Investment Management LLC purchased a new stake in shares of GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the fourth quarter valued at $43,000. Huntington National Bank increased its stake in GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company's stock valued at $48,000 after acquiring an additional 230 shares during the last quarter. Finally, Friedenthal Financial bought a new position in GoDaddy in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GDDY. Citigroup raised their price objective on GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research note on Friday, January 3rd. Wells Fargo & Company began coverage on GoDaddy in a research note on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Finally, Jefferies Financial Group increased their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $213.20.

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GoDaddy Price Performance

Shares of GoDaddy stock traded down $3.75 during trading hours on Thursday, reaching $172.55. The company's stock had a trading volume of 774,014 shares, compared to its average volume of 1,336,872. The firm has a 50 day moving average price of $196.74 and a 200-day moving average price of $182.11. GoDaddy Inc. has a one year low of $109.16 and a one year 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 stock has a market cap of $24.39 billion, a P/E ratio of 26.74 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly 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). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. On average, analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction on Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the transaction, the chief accounting officer now owns 21,505 shares of the company's stock, valued at approximately $4,384,869.50. The trade was a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now directly owns 84,300 shares of the company's stock, valued at $16,776,543. The trade was a 6.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,034 shares of company stock worth $4,166,030. 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.