Commonwealth Equity Services LLC Acquires 1,595 Shares of GoDaddy Inc. (NYSE:GDDY)

Commonwealth Equity Services LLC boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 26.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,523 shares of the technology company’s stock after purchasing an additional 1,595 shares during the quarter. Commonwealth Equity Services LLC’s holdings in GoDaddy were worth $1,485,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cerity Partners LLC grew its stake in GoDaddy by 18.9% in the 3rd quarter. Cerity Partners LLC now owns 17,672 shares of the technology company’s stock valued at $2,771,000 after buying an additional 2,803 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of GoDaddy in the third quarter valued at approximately $233,000. The Manufacturers Life Insurance Company increased its stake in shares of GoDaddy by 20.5% during the third quarter. The Manufacturers Life Insurance Company now owns 90,810 shares of the technology company’s stock worth $14,237,000 after purchasing an additional 15,452 shares during the period. FMR LLC lifted its holdings in GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in GoDaddy by 41.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,086 shares of the technology company’s stock valued at $484,000 after buying an additional 902 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Down 2.1 %

Shares of GoDaddy stock opened at $178.89 on Friday. The firm’s 50 day moving average is $189.80 and its 200 day moving average is $184.18. The firm has a market capitalization of $25.29 billion, a PE ratio of 27.73 and a beta of 1.25. GoDaddy Inc. has a 1 year low of $118.39 and a 1 year 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 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 return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of recent research reports. UBS Group boosted their target price on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Barclays boosted their price objective on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Citigroup boosted their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Raymond James raised their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Insider Activity

In related news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the transaction, the chief operating officer now directly owns 257,949 shares of the company’s stock, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $597,030.00. Following the completion of the sale, the chief executive officer now owns 333,153 shares in the company, valued at $66,300,778.53. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,480 shares of company stock valued at $3,816,029. 0.61% of the stock is currently owned by corporate insiders.

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.