GoDaddy Inc. (NYSE:GDDY) Shares Bought by Paralel Advisors LLC

Paralel Advisors LLC increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,154 shares of the technology company's stock after purchasing an additional 1,920 shares during the period. GoDaddy makes up 0.2% of Paralel Advisors LLC's holdings, making the stock its 26th biggest position. Paralel Advisors LLC's holdings in GoDaddy were worth $4,175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new position in GoDaddy during the third quarter worth $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy during the 4th quarter worth about $43,000. Rakuten Securities Inc. lifted its holdings in shares of GoDaddy by 311.3% in the 4th 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 acquired a new position in GoDaddy during the fourth quarter worth $49,000. Finally, OFI Invest Asset Management purchased a new position in GoDaddy during the 4th quarter valued at about $52,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Price Performance

GDDY traded up $2.70 during midday trading on Tuesday, reaching $174.35. 1,261,261 shares of the company's stock were exchanged, compared to its average volume of 1,564,044. The stock has a market capitalization of $24.65 billion, a PE ratio of 27.03 and a beta of 1.19. The business's 50-day moving average price is $180.10 and its 200 day moving average price is $185.65. 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 current ratio of 0.72 and a quick ratio of 0.56.

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GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results 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 during the quarter, compared to analysts' expectations of $1.18 billion. As a group, equities analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on 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 owns 257,949 shares of the company's stock, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the transaction, the director now owns 22,621 shares in the company, valued at approximately $4,698,381.70. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,000 shares of company stock worth $3,546,970. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several research reports. Citigroup boosted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Wells Fargo & Company assumed coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price objective for the company. Raymond James raised their price target on GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 21st. B. Riley lifted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Benchmark boosted their target price on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and an average price target of $212.20.

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.