Commonwealth Equity Services LLC Purchases 1,595 Shares of GoDaddy Inc. (NYSE:GDDY)

Commonwealth Equity Services LLC grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 26.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,523 shares of the technology company’s stock after acquiring an additional 1,595 shares during the period. Commonwealth Equity Services LLC’s holdings in GoDaddy were worth $1,485,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research firms have weighed in on GDDY. Morgan Stanley lifted their price target on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Wells Fargo & Company started coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price for the company. Piper Sandler increased their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. B. Riley boosted their price objective on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Benchmark increased their target price on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $213.20.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the transaction, the chief executive officer now owns 333,153 shares of the company’s stock, valued at $66,300,778.53. This represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $99,505.00. Following the transaction, the director now owns 23,121 shares of the company’s stock, valued at $4,601,310.21. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock valued at $3,816,029 in the last ninety days. 0.61% of the stock is currently owned by insiders.

GoDaddy Trading Down 2.1 %

NYSE:GDDY opened at $178.89 on Friday. GoDaddy Inc. has a 52 week low of $118.39 and a 52 week high of $216.00. The firm has a 50-day moving average price of $189.80 and a two-hundred day moving average price of $184.18. 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 firm has a market cap of $25.29 billion, a price-to-earnings ratio of 27.73 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.