Park Avenue Securities LLC Buys 8,650 Shares of GoDaddy Inc. (NYSE:GDDY)

Park Avenue Securities LLC boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 109.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,560 shares of the technology company's stock after purchasing an additional 8,650 shares during the period. Park Avenue Securities LLC's holdings in GoDaddy were worth $3,268,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of GoDaddy in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC bought a new position in shares of GoDaddy during the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc bought a new stake in GoDaddy in the 4th quarter valued at $43,000. Finally, Huntington National Bank lifted its holdings in GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company's stock valued at $48,000 after purchasing an additional 230 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Robert W. Baird increased their target price on GoDaddy from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. Citigroup upped their price objective on GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Barclays boosted their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a research report on Wednesday, September 25th. Finally, Piper Sandler boosted their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $194.14.

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 5,500 shares of the 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 sale, the chief financial officer now directly owns 84,300 shares in the company, valued at $16,776,543. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now directly owns 24,121 shares in the company, valued at $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,483 shares of company stock worth $4,759,553 over the last three months. Company insiders own 0.61% of the company's stock.

GoDaddy Price Performance

NYSE:GDDY traded up $0.04 on Friday, hitting $200.89. The company had a trading volume of 1,308,296 shares, compared to its average volume of 1,107,696. The stock has a market capitalization of $28.20 billion, a price-to-earnings ratio of 15.52 and a beta of 1.15. GoDaddy Inc. has a 52 week low of $106.32 and a 52 week high of $211.11. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a 50 day moving average of $198.80 and a two-hundred day moving average of $170.99.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the previous year, the business posted $0.89 earnings per share. The business's quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current year.

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.