GoDaddy Inc. (NYSE:GDDY) Shares Acquired by Summit Global Investments

Summit Global Investments raised its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,844 shares of the technology company's stock after purchasing an additional 1,884 shares during the quarter. Summit Global Investments' holdings in GoDaddy were worth $9,838,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in GDDY. WCM Investment Management LLC raised its holdings 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 valued at $678,941,000 after buying an additional 3,356,678 shares during the period. Congress Asset Management Co. purchased a new position in shares of GoDaddy in the 4th quarter valued at $111,923,000. Amundi lifted its holdings in shares of GoDaddy by 84.4% during the 4th quarter. Amundi now owns 931,874 shares of the technology company's stock valued at $183,710,000 after acquiring an additional 426,501 shares in the last quarter. AustralianSuper Pty Ltd boosted its position in GoDaddy by 3,836.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company's stock worth $70,750,000 after purchasing an additional 349,358 shares during the period. Finally, FMR LLC increased its holdings in GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company's stock valued at $260,299,000 after purchasing an additional 274,014 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages have commented on GDDY. Jefferies Financial Group boosted their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Royal Bank of Canada restated an "outperform" rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Morgan Stanley increased their price objective on shares of GoDaddy from $227.00 to $228.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Raymond James boosted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 21st. Finally, Citigroup raised their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, GoDaddy currently has an average rating of "Moderate Buy" and an average price target of $213.20.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the sale, the director now directly owns 22,621 shares of the company's stock, valued at $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the transaction, the chief operating officer now directly owns 257,949 shares of the company's stock, valued at approximately $44,937,295.29. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock worth $3,816,029 over the last ninety days. Company insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

Shares of NYSE GDDY traded down $1.24 during trading on Wednesday, reaching $182.95. The stock had a trading volume of 1,344,965 shares, compared to its average volume of 1,343,571. The firm's 50 day moving average price is $190.91 and its two-hundred day moving average price is $183.77. GoDaddy Inc. has a one year low of $118.39 and a one year high of $216.00. The stock has a market cap of $25.86 billion, a PE ratio of 28.36 and a beta of 1.25. 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 issued its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share 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.