QRG Capital Management Inc. Buys 8,295 Shares of GoDaddy Inc. (NYSE:GDDY)

QRG Capital Management Inc. grew its stake in GoDaddy Inc. (NYSE:GDDY) by 10.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,635 shares of the technology company’s stock after acquiring an additional 8,295 shares during the period. QRG Capital Management Inc. owned 0.06% of GoDaddy worth $17,889,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Quent Capital LLC grew its holdings in GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after purchasing an additional 53 shares during the period. Lake Street Advisors Group LLC lifted its position in GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after acquiring an additional 64 shares during the last quarter. New York Life Investment Management LLC lifted its position in GoDaddy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after acquiring an additional 71 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after acquiring an additional 73 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in GoDaddy by 13.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock worth $146,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 0.2 %

Shares of GDDY opened at $176.99 on Thursday. GoDaddy Inc. has a one year low of $108.38 and a one year high of $216.00. The company has a market cap of $24.85 billion, a P/E ratio of 27.44 and a beta of 1.15. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm has a 50 day simple moving average of $200.04 and a two-hundred day simple moving average of $181.59.

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

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $194.28, for a total value of $194,280.00. Following the sale, the chief operating officer now owns 182,632 shares of the company’s stock, valued at $35,481,744.96. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’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 $1,094,555.00. Following the completion of the sale, the chief financial officer now directly owns 84,300 shares in the company, valued at approximately $16,776,543. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,482 shares of company stock valued at $4,903,930. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Morgan Stanley raised their price objective on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Barclays raised their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, B. Riley raised their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

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.