Northern Trust Corp Acquires 115,341 Shares of GoDaddy Inc. (NYSE:GDDY)

Northern Trust Corp increased its stake in GoDaddy Inc. (NYSE:GDDY) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,430,180 shares of the technology company’s stock after purchasing an additional 115,341 shares during the quarter. Northern Trust Corp owned approximately 1.02% of GoDaddy worth $282,275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new stake in shares of GoDaddy during the 4th quarter valued at about $25,554,000. CWA Asset Management Group LLC raised its position in GoDaddy by 29.2% during the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after purchasing an additional 3,631 shares during the period. Fiduciary Alliance LLC bought a new stake in shares of GoDaddy in the 4th quarter valued at approximately $1,045,000. Mount Yale Investment Advisors LLC boosted its holdings in shares of GoDaddy by 205.3% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock worth $1,110,000 after purchasing an additional 3,783 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in GoDaddy by 68.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company’s stock valued at $243,000 after buying an additional 499 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of GDDY opened at $188.36 on Thursday. GoDaddy Inc. has a 1-year low of $120.59 and a 1-year high of $216.00. The firm has a 50-day simple moving average of $176.06 and a two-hundred day simple moving average of $186.90. The stock has a market cap of $26.63 billion, a PE ratio of 29.20 and a beta of 1.19. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity

In other GoDaddy news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the sale, the director now owns 22,621 shares in the company, valued at $4,698,381.70. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $989,175.00. Following the completion of the transaction, the chief financial officer now owns 115,375 shares in the company, valued at approximately $20,750,193.75. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock valued at $3,518,150. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. UBS Group raised their price target on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. B. Riley lifted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Jefferies Financial Group dropped their target price on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a research note on Monday, April 7th. Piper Sandler increased their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Morgan Stanley lowered their price objective on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.60.

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.