Promethos Capital LLC Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Promethos Capital LLC bought a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,866 shares of the technology company's stock, valued at approximately $3,329,000.

Other hedge funds have also modified their holdings of the company. Anchor Investment Management LLC purchased a new position in shares of GoDaddy during the 3rd quarter worth $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy during the 4th quarter valued at approximately $43,000. Rakuten Securities Inc. grew its position in GoDaddy by 311.3% in the fourth 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 period. Friedenthal Financial acquired a new stake in GoDaddy during the fourth quarter worth $49,000. Finally, OFI Invest Asset Management purchased a new stake in GoDaddy in the fourth quarter valued at $52,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Price Performance

NYSE:GDDY traded down $0.65 during mid-day trading on Friday, hitting $171.55. 1,166,177 shares of the company's stock traded hands, compared to its average volume of 1,465,091. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company has a market cap of $24.25 billion, a PE ratio of 26.60 and a beta of 1.19. The firm's 50 day simple moving average is $177.13 and its 200 day simple moving average is $185.71. 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 posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. Sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity

In other GoDaddy news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now owns 22,621 shares in the company, valued at $4,698,381.70. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the sale, the chief operating officer now owns 256,949 shares of the company's stock, valued at approximately $44,130,990.75. The trade was a 0.39 % 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 $3,518,150 over the last quarter. Company insiders own 0.61% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GDDY. Wells Fargo & Company began coverage on 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 target price on shares of GoDaddy from $185.00 to $230.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 21st. Morgan Stanley dropped their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday. Citigroup upped their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Finally, StockNews.com downgraded GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $210.73.

About GoDaddy

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.