Summit Global Investments Raises Position in GoDaddy Inc. (NYSE:GDDY)

Summit Global Investments raised its holdings in GoDaddy Inc. (NYSE:GDDY) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,844 shares of the technology company’s stock after acquiring an additional 1,884 shares during the quarter. Summit Global Investments’ holdings in GoDaddy were worth $9,838,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in shares of GoDaddy in the 4th quarter valued at $25,554,000. CWA Asset Management Group LLC raised its holdings in shares of GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after purchasing an additional 3,631 shares in the last quarter. Dai ichi Life Insurance Company Ltd raised its holdings in shares of GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after purchasing an additional 17,021 shares in the last quarter. Fiduciary Alliance LLC acquired a new stake in shares of GoDaddy in the 4th quarter valued at $1,045,000. Finally, Mount Yale Investment Advisors LLC raised its holdings in shares of GoDaddy by 205.3% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after purchasing an additional 3,783 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Raymond James lifted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group lifted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their price target on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Seven research 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 company. Based on data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $213.20.

Insider Activity

In related news, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $201.29, for a total transaction of $96,619.20. Following the sale, the chief financial officer now owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00. Following the sale, the director now directly owns 23,121 shares in the company, valued at approximately $4,601,310.21. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock valued at $3,816,029 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Trading Down 0.1 %

NYSE GDDY opened at $180.49 on Friday. The firm has a market cap of $25.51 billion, a PE ratio of 27.98 and a beta of 1.25. The firm’s fifty day moving average is $191.37 and its two-hundred day moving average is $182.97. 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 one year low of $118.39 and a one year high of $216.00.

GoDaddy (NYSE:GDDY) last issued its 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). The firm had revenue of $1.19 billion during 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%. Analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current 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.