Machina Capital S.A.S. Purchases New Shares in GoDaddy Inc. (NYSE:GDDY)

Machina Capital S.A.S. acquired a new stake in GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,037 shares of the technology company’s stock, valued at approximately $535,000.

Several other large investors have also recently added to or reduced their stakes in GDDY. Ameriprise Financial Inc. grew its stake in shares of GoDaddy by 9.7% in the third quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after acquiring an additional 561,614 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after purchasing an additional 695,897 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of GoDaddy by 88.7% during the third quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after purchasing an additional 674,719 shares during the period. Northern Trust Corp raised its position in shares of GoDaddy by 36.8% in the third quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock valued at $103,946,000 after buying an additional 375,568 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of GoDaddy by 3,402.0% in the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock valued at $101,442,000 after buying an additional 928,273 shares during the period. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GDDY shares. B. Riley upped their price objective on shares of GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Raymond James initiated coverage on shares of GoDaddy in a research note on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price objective on the stock. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. Finally, Evercore ISI lifted their price target on GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average target price of $142.73.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the sale, the chief financial officer now owns 116,328 shares of the company’s stock, valued at approximately $14,055,912.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Nick Daddario sold 1,823 shares of the business’s stock in a transaction dated 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 approximately $2,792,572.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the sale, the chief financial officer now directly owns 116,328 shares of the company’s stock, valued at approximately $14,055,912.24. The disclosure for this sale can be found here. Insiders have sold a total of 125,234 shares of company stock valued at $14,025,346 over the last 90 days. 0.54% of the stock is owned by insiders.

GoDaddy Trading Up 3.8 %

Shares of GDDY stock traded up $4.70 during mid-day trading on Monday, reaching $128.34. 1,653,918 shares of the stock traded hands, compared to its average volume of 1,468,620. The company has a market cap of $18.29 billion, a price-to-earnings ratio of 10.66 and a beta of 1.09. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. The stock’s fifty day simple moving average is $120.27 and its two-hundred day simple moving average is $107.24. GoDaddy Inc. has a 1-year low of $68.98 and a 1-year high of $128.60.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. On average, research analysts anticipate that GoDaddy Inc. will post 4.93 EPS for the current fiscal 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.