OFI Invest Asset Management Acquires Shares of 272 GoDaddy Inc. (NYSE:GDDY)

OFI Invest Asset Management acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 272 shares of the technology company’s stock, valued at approximately $52,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Personal CFO Solutions LLC acquired a new stake in GoDaddy during the fourth quarter valued at approximately $224,000. Amundi boosted its holdings in GoDaddy by 84.4% during the fourth quarter. Amundi now owns 931,874 shares of the technology company’s stock valued at $183,710,000 after purchasing an additional 426,501 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of GoDaddy by 16.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,295 shares of the technology company’s stock valued at $1,440,000 after acquiring an additional 1,010 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new position in shares of GoDaddy in the fourth quarter valued at approximately $225,000. Finally, Edgestream Partners L.P. bought a new position in shares of GoDaddy in the fourth quarter valued at approximately $3,636,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the business’s 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 completion of the transaction, the director now owns 22,621 shares of the company’s stock, valued at $4,698,381.70. The trade was a 2.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $541,980.00. Following the completion of the transaction, the chief executive officer now directly owns 505,649 shares of the company’s stock, valued at $91,350,548.34. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,480 shares of company stock valued at $3,849,169. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the subject of a number of research analyst reports. Robert W. Baird lifted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Benchmark lifted their target price on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley lifted their target price 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. B. Riley lifted their target price on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company initiated coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Price Performance

GDDY opened at $172.40 on Tuesday. The company has a fifty day moving average price of $194.96 and a two-hundred day moving average price of $182.45. 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 Inc. has a 52 week low of $113.01 and a 52 week high of $216.00. The firm has a market capitalization of $24.37 billion, a PE ratio of 26.73 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its 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). 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. As a group, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current 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.