Optimize Financial Inc Makes New $2.27 Million Investment in GoDaddy Inc. (NYSE:GDDY)

Optimize Financial Inc acquired a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,503 shares of the technology company's stock, valued at approximately $2,270,000. GoDaddy comprises 1.7% of Optimize Financial Inc's investment portfolio, making the stock its 6th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of GDDY. Geode Capital Management LLC increased its holdings in shares of GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after buying an additional 90,810 shares during the last quarter. WCM Investment Management LLC grew its position in GoDaddy by 7,083.4% in the fourth 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. Invesco Ltd. increased its stake in GoDaddy by 11.6% in the fourth quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock valued at $575,122,000 after acquiring an additional 304,033 shares during the last quarter. Norges Bank purchased a new stake in GoDaddy during the fourth quarter valued at about $356,038,000. Finally, Bank of New York Mellon Corp lifted its stake in GoDaddy by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 949,691 shares of the technology company's stock worth $187,441,000 after purchasing an additional 26,341 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, Director Brian Sharples sold 500 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $89,925.00. Following the sale, the director now directly owns 21,621 shares of the company's stock, valued at $3,888,536.85. This represents a 2.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the transaction, the chief financial officer now directly owns 115,375 shares of the company's stock, valued at approximately $20,750,193.75. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $3,546,970 over the last three months. Corporate insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several recent research reports. Barclays increased their price objective on GoDaddy from $235.00 to $243.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Piper Sandler lifted their price target on shares of GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Benchmark lifted their target price on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, StockNews.com lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.20.

GoDaddy Trading Up 2.1 %

Shares of GDDY traded up $3.67 during mid-day trading on Tuesday, hitting $175.32. 2,046,171 shares of the company's stock traded hands, compared to its average volume of 1,462,633. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The firm has a market capitalization of $24.78 billion, a P/E ratio of 27.18 and a beta of 1.19. The business's 50-day moving average price is $179.40 and its 200-day moving average price is $185.58. GoDaddy Inc. has a 1 year low of $119.76 and a 1 year high of $216.00.

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 analysts' expectations of $1.18 billion. As a group, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

GoDaddy Company 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.