Principal Securities Inc. Raises Position in GoDaddy Inc. (NYSE:GDDY)

Principal Securities Inc. lifted its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 54.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,202 shares of the technology company's stock after buying an additional 1,825 shares during the quarter. Principal Securities Inc.'s holdings in GoDaddy were worth $1,027,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company's stock worth $1,080,549,000 after purchasing an additional 147,105 shares in the last quarter. Geode Capital Management LLC boosted its position in GoDaddy by 2.5% during the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company's stock worth $535,153,000 after purchasing an additional 84,550 shares in the last quarter. WCM Investment Management LLC boosted its position in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after purchasing an additional 3,356,678 shares in the last quarter. FMR LLC boosted its position in GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock worth $260,299,000 after purchasing an additional 274,014 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in GoDaddy by 17.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company's stock worth $214,584,000 after purchasing an additional 203,909 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the sale, the chief executive officer now directly owns 342,956 shares in the company, valued at $67,826,408.12. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $194.28, for a total value of $194,280.00. Following the sale, the chief operating officer now owns 182,632 shares of the company's stock, valued at $35,481,744.96. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,482 shares of company stock worth $4,903,930 over the last three months. 0.61% of the stock is owned by insiders.

GoDaddy Trading Down 1.6 %

GoDaddy stock traded down $2.75 during trading on Friday, hitting $173.82. The company's stock had a trading volume of 1,477,403 shares, compared to its average volume of 1,434,149. The stock has a market capitalization of $24.40 billion, a price-to-earnings ratio of 26.95 and a beta of 1.15. The stock's fifty day moving average is $201.36 and its 200 day moving average is $181.13. GoDaddy Inc. has a 1-year low of $108.38 and a 1-year high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY - Get Free Report) last released 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. 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 research report on Wednesday, December 4th. StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. UBS Group boosted their price target on GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. B. Riley boosted their price target on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, Jefferies Financial Group boosted their price target on GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.20.

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.