GoDaddy Inc. (NYSE:GDDY) Shares Bought by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC grew its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 39.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,737 shares of the technology company's stock after purchasing an additional 1,918 shares during the period. Thoroughbred Financial Services LLC's holdings in GoDaddy were worth $1,329,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State Street Corp raised 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 valued at $1,080,549,000 after purchasing an additional 147,105 shares during the period. Geode Capital Management LLC lifted its position in GoDaddy by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after buying an additional 90,810 shares during the last quarter. WCM Investment Management LLC boosted its stake 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 buying an additional 3,356,678 shares during the period. Norges Bank bought a new position in GoDaddy during the fourth quarter valued at $356,038,000. Finally, Bank of New York Mellon Corp raised its stake in shares of GoDaddy by 2.9% in the fourth quarter. Bank of New York Mellon Corp now owns 949,691 shares of the technology company's stock valued at $187,441,000 after acquiring an additional 26,341 shares during the period. 90.28% of the stock is owned by institutional investors.

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GoDaddy Stock Performance

GoDaddy stock traded down $4.86 during midday trading on Thursday, hitting $169.26. 497,966 shares of the company were exchanged, compared to its average volume of 1,444,963. The firm has a market capitalization of $23.93 billion, a PE ratio of 26.32 and a beta of 1.19. GoDaddy Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $216.00. The business has a fifty day simple moving average of $182.49 and a two-hundred day simple moving average of $185.15. 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 announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GDDY shares. Barclays lifted their price target on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Citigroup lifted their target price on GoDaddy from $240.00 to $251.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Piper Sandler increased their price target on GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Jefferies Financial Group lowered their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday. Finally, Wells Fargo & Company initiated coverage on GoDaddy in a research note on Monday, February 3rd. They set an "equal weight" rating and a $198.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $212.20.

Insider Activity

In other news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $989,175.00. Following the completion of the sale, the chief financial officer now owns 115,375 shares of the company's stock, valued at $20,750,193.75. This represents a 4.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm's 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 sale, the chief operating officer now owns 257,949 shares of the company's stock, valued at $44,937,295.29. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock worth $3,546,970 in the last quarter. Corporate insiders own 0.61% of the company's stock.

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.