Norden Group LLC Invests $825,000 in GoDaddy Inc. (NYSE:GDDY)

Norden Group LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,179 shares of the technology company’s stock, valued at approximately $825,000.

Other large investors have also bought and sold shares of the company. Metis Global Partners LLC lifted its holdings in GoDaddy by 1.1% in the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock valued at $1,294,000 after acquiring an additional 74 shares during the last quarter. Williamson Legacy Group LLC raised its holdings in shares of GoDaddy by 4.9% in the 4th quarter. Williamson Legacy Group LLC now owns 6,104 shares of the technology company’s stock worth $1,205,000 after purchasing an additional 285 shares in the last quarter. US Bancorp DE lifted its stake in GoDaddy by 41.8% during the fourth quarter. US Bancorp DE now owns 53,117 shares of the technology company’s stock valued at $10,484,000 after purchasing an additional 15,659 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in GoDaddy by 10.1% during the fourth quarter. QRG Capital Management Inc. now owns 90,635 shares of the technology company’s stock worth $17,889,000 after buying an additional 8,295 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in GoDaddy in the fourth quarter worth approximately $25,554,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 2.8 %

GDDY stock opened at $179.77 on Monday. The company has a 50 day moving average of $198.50 and a two-hundred day moving average of $181.81. The company has a market cap of $25.24 billion, a price-to-earnings ratio of 27.87 and a beta of 1.15. GoDaddy Inc. has a 12-month low of $108.38 and a 12-month high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 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 the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, equities analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GDDY shares. Wells Fargo & Company began coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. B. Riley lifted their price target on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Citigroup raised their target price on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Insider Transactions at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the transaction, the chief financial officer now directly owns 84,300 shares of the company’s stock, valued at $16,776,543. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the transaction, the chief operating officer now owns 184,632 shares in the company, valued at approximately $38,283,445.20. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,982 shares of company stock valued at $4,211,735 in the last three months. Corporate insiders own 0.61% of the company’s stock.

GoDaddy 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.