MV Capital Management Inc. Boosts Stock Position in GoDaddy Inc. (NYSE:GDDY)

MV Capital Management Inc. boosted its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 742.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 859 shares of the technology company’s stock after purchasing an additional 757 shares during the quarter. MV Capital Management Inc.’s holdings in GoDaddy were worth $102,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its position in shares of GoDaddy by 9.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after purchasing an additional 561,614 shares during the last quarter. Norges Bank bought a new position in GoDaddy during the fourth quarter valued at $181,687,000. Jacobs Levy Equity Management Inc. increased its position in GoDaddy by 71.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after acquiring an additional 695,897 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of GoDaddy by 3,402.0% in the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock valued at $101,442,000 after acquiring an additional 928,273 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of GoDaddy by 13.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock worth $96,166,000 after acquiring an additional 110,076 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total value of $490,400.00. Following the completion of the sale, the chief operating officer now directly owns 200,632 shares in the company, valued at $24,597,483.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total value of $490,400.00. Following the completion of the sale, the chief operating officer now directly owns 200,632 shares in the company, valued at $24,597,483.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark Mccaffrey sold 4,058 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $133.69, for a total value of $542,514.02. Following the completion of the sale, the chief financial officer now directly owns 112,473 shares of the company’s stock, valued at approximately $15,036,515.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,571 shares of company stock valued at $5,687,391. 0.61% of the stock is currently owned by insiders.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $142.96 on Wednesday. The firm has a 50 day moving average of $135.52 and a 200 day moving average of $120.88. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. The company has a market capitalization of $20.40 billion, a price-to-earnings ratio of 11.87 and a beta of 1.14. GoDaddy Inc. has a 52 week low of $69.18 and a 52 week high of $143.37.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. On average, sell-side analysts predict that GoDaddy Inc. will post 4.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the subject of several analyst reports. William Blair reissued an “outperform” rating on shares of GoDaddy in a research note on Friday, May 3rd. Raymond James initiated coverage on GoDaddy in a report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective for the company. UBS Group increased their target price on GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Royal Bank of Canada boosted their target price on shares of GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Robert W. Baird lifted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.92.

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.