Kesler Norman & Wride LLC Increases Stock Position in GoDaddy Inc. (NYSE:GDDY)

Kesler Norman & Wride LLC lifted its stake in GoDaddy Inc. (NYSE:GDDY) by 34.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,978 shares of the technology company’s stock after acquiring an additional 1,270 shares during the quarter. Kesler Norman & Wride LLC’s holdings in GoDaddy were worth $983,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GDDY. Anchor Investment Management LLC bought a new stake in GoDaddy in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy in the 4th quarter worth $43,000. Rakuten Securities Inc. grew its holdings in shares of GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 165 shares during the period. Friedenthal Financial purchased a new stake in GoDaddy during the fourth quarter valued at $49,000. Finally, OFI Invest Asset Management purchased a new position in GoDaddy in the fourth quarter worth about $52,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

NYSE:GDDY opened at $180.77 on Wednesday. The stock has a 50-day moving average price of $188.88 and a 200 day moving average price of $184.81. The stock has a market capitalization of $25.55 billion, a P/E ratio of 28.03 and a beta of 1.25. GoDaddy Inc. has a 12-month low of $119.76 and a 12-month high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Wells Fargo & Company began coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. UBS Group boosted their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Barclays raised their target price on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $597,030.00. Following the sale, the chief executive officer now owns 333,153 shares of the company’s stock, valued at $66,300,778.53. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock worth $3,816,029 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

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.