7,281 Shares in GoDaddy Inc. (NYSE:GDDY) Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 7,281 shares of the technology company’s stock, valued at approximately $773,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Morgan Stanley boosted its holdings in 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 purchasing an additional 5,133,332 shares in the last quarter. Starboard Value LP boosted its holdings in GoDaddy by 23.9% in the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock valued at $765,637,000 after purchasing an additional 1,973,118 shares in the last quarter. Norges Bank purchased a new stake in GoDaddy in the 4th quarter valued at approximately $116,303,000. Goldman Sachs Group Inc. boosted its holdings in GoDaddy by 108.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,396,699 shares of the technology company’s stock valued at $116,903,000 after purchasing an additional 727,582 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in GoDaddy by 201.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,068,773 shares of the technology company’s stock valued at $83,065,000 after purchasing an additional 713,798 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com raised GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. B. Riley boosted their price target on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. UBS Group boosted their price target on GoDaddy from $110.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Piper Sandler boosted their price target on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Finally, Morgan Stanley boosted their price target on GoDaddy from $120.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 14th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $135.18.

GoDaddy Trading Down 1.5 %

Shares of GoDaddy stock opened at $121.42 on Tuesday. The company has a debt-to-equity ratio of 61.07, a current ratio of 0.47 and a quick ratio of 0.47. GoDaddy Inc. has a 1 year low of $67.43 and a 1 year high of $127.15. The company has a market capitalization of $17.30 billion, a P/E ratio of 12.67 and a beta of 1.12. The business has a 50 day moving average price of $116.78 and a 200 day moving average price of $102.12.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Sell-side analysts anticipate that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the transaction, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other GoDaddy news, CAO Nick Daddario sold 1,823 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 25,263 shares in the company, valued at approximately $2,792,572.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the transaction, the chief operating officer now owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The disclosure for this sale can be found here. In the last three months, insiders sold 121,234 shares of company stock worth $13,534,946. Insiders own 0.54% of the company’s stock.

About GoDaddy

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.