GoDaddy Inc. (NYSE:GDDY) Holdings Boosted by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its holdings in GoDaddy Inc. (NYSE:GDDY) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 55,600 shares of the technology company’s stock after acquiring an additional 812 shares during the period. Rafferty Asset Management LLC’s holdings in GoDaddy were worth $10,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GDDY. Rakuten Securities Inc. lifted its holdings in GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 165 shares during the last quarter. OFI Invest Asset Management bought a new position in GoDaddy in the fourth quarter worth about $52,000. Summit Securities Group LLC bought a new position in GoDaddy in the fourth quarter worth about $58,000. Physician Wealth Advisors Inc. bought a new position in GoDaddy in the fourth quarter worth about $67,000. Finally, Global Retirement Partners LLC lifted its holdings in GoDaddy by 31.1% in the fourth quarter. Global Retirement Partners LLC now owns 392 shares of the technology company’s stock worth $77,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $190.86, for a total transaction of $95,430.00. Following the completion of the sale, the director now owns 21,121 shares in the company, valued at approximately $4,031,154.06. This represents a 2.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the sale, the chief operating officer now 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 disclosure for this sale can be found here. Insiders sold 55,500 shares of company stock worth $10,050,555 over the last ninety days. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Raymond James raised their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley cut their price target on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company began coverage on GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Finally, B. Riley lifted their price target on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.86.

GoDaddy Stock Performance

GDDY opened at $190.27 on Friday. The company has a market capitalization of $27.11 billion, a price-to-earnings ratio of 29.50 and a beta of 1.13. 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 Inc. has a 1-year low of $134.63 and a 1-year high of $216.00. The business has a 50 day moving average price of $178.47 and a two-hundred day moving average price of $188.78.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $2.76 earnings per share. Research analysts predict that GoDaddy Inc. will post 6.63 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.