GoDaddy Inc. (NYSE:GDDY) Shares Bought by Ethic Inc.

Ethic Inc. increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 75.1% in the fourth quarter, HoldingsChannel reports. The firm owned 33,814 shares of the technology company’s stock after buying an additional 14,502 shares during the quarter. Ethic Inc.’s holdings in GoDaddy were worth $6,674,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. WCM Investment Management LLC boosted its holdings in shares of GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. Norges Bank purchased a new position in shares of GoDaddy in the 4th quarter worth $356,038,000. Canada Pension Plan Investment Board boosted its holdings in GoDaddy by 107.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company’s stock valued at $273,582,000 after acquiring an additional 719,000 shares during the last quarter. Congress Asset Management Co. purchased a new stake in GoDaddy during the fourth quarter valued at about $111,923,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of GoDaddy by 88.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company’s stock worth $213,630,000 after purchasing an additional 507,374 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays decreased their target price on GoDaddy from $243.00 to $235.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. StockNews.com raised shares of GoDaddy from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Raymond James increased their price target on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Piper Sandler boosted their price objective on GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Morgan Stanley lowered their target price on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $214.86.

Insider Buying and Selling

In related news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $194.28, for a total transaction of $194,280.00. Following the completion of the sale, the chief operating officer now owns 182,632 shares of the company’s stock, valued at $35,481,744.96. This represents a 0.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 37,500 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the completion of the transaction, the chief financial officer now directly owns 77,250 shares in the company, valued at $13,978,387.50. This represents a 32.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,500 shares of company stock worth $10,244,835. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY opened at $182.51 on Friday. The firm has a market cap of $25.80 billion, a price-to-earnings ratio of 28.30 and a beta of 1.13. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The business’s 50 day moving average is $177.00 and its two-hundred day moving average is $187.84. GoDaddy Inc. has a 52-week low of $131.84 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.76 earnings per share. Analysts forecast 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.