Nisa Investment Advisors LLC Boosts Stock Position in GoDaddy Inc. (NYSE:GDDY)

Nisa Investment Advisors LLC lifted its position in GoDaddy Inc. (NYSE:GDDY) by 488.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,434 shares of the technology company’s stock after buying an additional 16,134 shares during the quarter. Nisa Investment Advisors LLC’s holdings in GoDaddy were worth $2,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GDDY. Morgan Stanley raised its holdings in shares of GoDaddy by 517.4% in the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock valued at $458,311,000 after buying an additional 5,133,332 shares during the period. Starboard Value LP increased its holdings in GoDaddy by 23.9% during the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock worth $765,637,000 after purchasing an additional 1,973,118 shares during the period. Norges Bank purchased a new stake in GoDaddy during the 4th quarter worth about $116,303,000. Goldman Sachs Group Inc. increased its holdings in GoDaddy by 108.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,396,699 shares of the technology company’s stock worth $116,903,000 after purchasing an additional 727,582 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in GoDaddy by 201.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,068,773 shares of the technology company’s stock worth $83,065,000 after purchasing an additional 713,798 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on GDDY shares. B. Riley upped their price target on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Royal Bank of Canada restated an “outperform” rating and set a $124.00 price target on shares of GoDaddy in a report on Thursday, March 7th. Piper Sandler upped their price objective on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. upped their price objective on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Raymond James began coverage on GoDaddy in a research report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $135.18.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 59,608 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the completion of the sale, the chief executive officer now directly owns 394,423 shares of the company’s stock, valued at approximately $43,599,518.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 59,608 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total transaction of $6,589,068.32. Following the completion of the sale, the chief executive officer now directly owns 394,423 shares of the company’s stock, valued at approximately $43,599,518.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Nick Daddario sold 1,823 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $201,514.42. Following the transaction, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at $2,792,572.02. The disclosure for this sale can be found here. Insiders sold a total of 121,234 shares of company stock valued at $13,534,946 in the last ninety days. Insiders own 0.54% of the company’s stock.

GoDaddy Stock Down 2.6 %

Shares of NYSE GDDY opened at $123.30 on Friday. The stock has a market cap of $17.57 billion, a PE ratio of 12.87 and a beta of 1.12. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. GoDaddy Inc. has a 52-week low of $67.43 and a 52-week high of $127.15. The business has a 50-day moving average price of $116.54 and a 200 day moving average price of $101.59.

GoDaddy (NYSE:GDDY) last announced its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. Equities research analysts forecast that GoDaddy Inc. will post 4.76 earnings per share for the current year.

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.