GoDaddy Inc. (NYSE:GDDY) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its position in GoDaddy Inc. (NYSE:GDDY) by 163.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,357 shares of the technology company’s stock after buying an additional 10,140 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in GoDaddy were worth $3,228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GDDY. State Street Corp boosted its holdings in GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after buying an additional 147,105 shares in the last quarter. Geode Capital Management LLC raised its position in shares of GoDaddy by 2.5% during the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after purchasing an additional 84,550 shares during the period. WCM Investment Management LLC lifted its holdings in shares of GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. FMR LLC boosted its position in shares of GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in GoDaddy by 17.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after purchasing an additional 203,909 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $181.54 on Thursday. The business’s 50-day simple moving average is $191.94 and its 200-day simple moving average is $182.90. GoDaddy Inc. has a 52 week low of $118.39 and a 52 week high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The firm has a market cap of $25.66 billion, a price-to-earnings ratio of 28.15 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its quarterly 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). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of the 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 sale, the director now directly owns 22,621 shares of the company’s stock, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the sale, the chief operating officer now owns 183,632 shares in the company, valued at $36,831,070.24. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock valued at $3,816,029 in the last quarter. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Citigroup upped their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Jefferies Financial Group lifted their target price on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Morgan Stanley upped their price objective 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. Finally, Piper Sandler lifted their target price on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

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.