HighPoint Advisor Group LLC Boosts Holdings in GoDaddy Inc. (NYSE:GDDY)

HighPoint Advisor Group LLC increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 42.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,841 shares of the technology company’s stock after buying an additional 548 shares during the period. HighPoint Advisor Group LLC’s holdings in GoDaddy were worth $380,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of 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 acquiring an additional 147,105 shares during the period. Geode Capital Management LLC increased its holdings in GoDaddy by 2.5% during the 3rd 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 raised its position in GoDaddy by 7,083.4% in the 4th 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 in the last quarter. Norges Bank acquired a new position in shares of GoDaddy during the fourth quarter worth about $356,038,000. Finally, Bank of New York Mellon Corp increased its stake in shares of GoDaddy by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 949,691 shares of the technology company’s stock worth $187,441,000 after buying an additional 26,341 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Price Performance

Shares of GDDY opened at $180.48 on Thursday. The firm has a market capitalization of $25.51 billion, a PE ratio of 27.98 and a beta of 1.25. The stock’s 50 day moving average is $188.41 and its two-hundred day moving average is $184.78. GoDaddy Inc. has a twelve month low of $119.76 and a twelve 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 posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share 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 business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GDDY. Barclays lifted their price target on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Benchmark upped their target price on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Jefferies Financial Group raised their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Seven 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

Insider Activity

In other news, 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 value of $200,570.00. Following the completion of the transaction, the chief operating officer now owns 183,632 shares in the company, valued at $36,831,070.24. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $201.29, for a total transaction of $96,619.20. Following the completion of the sale, the chief financial officer now owns 83,254 shares in the company, valued at $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,480 shares of company stock worth $2,024,939 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

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.