MGO One Seven LLC Invests $390,000 in GoDaddy Inc. (NYSE:GDDY)

MGO One Seven LLC purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,978 shares of the technology company's stock, valued at approximately $390,000.

Several other hedge funds and other institutional investors have also bought and sold shares of GDDY. Anchor Investment Management LLC bought a new stake in GoDaddy in the 3rd quarter valued at about $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy in the fourth quarter valued at approximately $43,000. Rakuten Securities Inc. grew its stake in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after buying an additional 165 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of GoDaddy during the 4th quarter valued at $49,000. Finally, OFI Invest Asset Management purchased a new position in shares of GoDaddy in the fourth quarter worth $52,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GDDY. Jefferies Financial Group decreased their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. Citigroup reduced their target price on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Benchmark restated a "buy" rating on shares of GoDaddy in a report on Monday. Piper Sandler upped their price target on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday. Finally, B. Riley upped their target price on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.93.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares of the company's stock, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $989,175.00. Following the sale, the chief financial officer now owns 115,375 shares in the company, valued at $20,750,193.75. This trade represents a 4.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,000 shares of company stock worth $3,518,150. 0.61% of the stock is owned by corporate insiders.

GoDaddy Price Performance

Shares of NYSE:GDDY traded down $16.09 during midday trading on Friday, hitting $176.27. The company's stock had a trading volume of 3,239,351 shares, compared to its average volume of 1,481,230. The company has a market cap of $24.92 billion, a P/E ratio of 27.33 and a beta of 1.19. 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 12-month low of $120.59 and a 12-month high of $216.00. The business's 50 day simple moving average is $176.43 and its 200 day simple moving average is $187.10.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.76 earnings per share. On average, analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

GoDaddy Company 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.