OMERS ADMINISTRATION Corp Acquires 1,004 Shares of GoDaddy Inc. (NYSE:GDDY)

OMERS ADMINISTRATION Corp grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,661 shares of the technology company’s stock after acquiring an additional 1,004 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in GoDaddy were worth $1,117,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Rakuten Securities Inc. boosted its position in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after acquiring an additional 165 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of GoDaddy during the 4th quarter valued at about $52,000. Summit Securities Group LLC bought a new stake in shares of GoDaddy during the 4th quarter valued at about $58,000. Physician Wealth Advisors Inc. bought a new stake in shares of GoDaddy during the 4th quarter valued at about $67,000. Finally, Global Retirement Partners LLC lifted its position in GoDaddy by 31.1% in the 4th quarter. Global Retirement Partners LLC now owns 392 shares of the technology company’s stock worth $77,000 after buying an additional 93 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Citigroup dropped their target price on GoDaddy from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Morgan Stanley dropped their target price on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Raymond James boosted their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Jefferies Financial Group dropped their target price on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research report on Monday, April 7th. Finally, Benchmark restated a “buy” rating on shares of GoDaddy in a research report on Monday, April 28th. 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 stock. Based on data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $214.86.

Insider Activity at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $190.86, for a total value of $95,430.00. Following the sale, the director now directly owns 21,121 shares of the company’s stock, valued at $4,031,154.06. This represents a 2.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the completion of the sale, the chief operating officer now directly owns 256,949 shares in the company, valued at approximately $44,130,990.75. The trade was a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,500 shares of company stock worth $10,050,555 over the last quarter. 0.61% of the stock is owned by corporate insiders.

GoDaddy Stock Performance

Shares of GDDY stock opened at $190.27 on Friday. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a fifty-two week low of $134.63 and a fifty-two week high of $216.00. The stock has a 50 day moving average price of $178.47 and a two-hundred day moving average price of $188.78. The company has a market capitalization of $27.11 billion, a P/E ratio of 29.50 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last announced its earnings results 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 business 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%. GoDaddy’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.76 EPS. Analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.