Woodline Partners LP Makes New $2.62 Million Investment in GoDaddy Inc. (NYSE:GDDY)

Woodline Partners LP acquired a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,256 shares of the technology company's stock, valued at approximately $2,616,000.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of GoDaddy by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock valued at $751,778,000 after purchasing an additional 395,160 shares in the last quarter. Geode Capital Management LLC increased its holdings in GoDaddy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after purchasing an additional 90,810 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of GoDaddy by 7,083.4% in the fourth 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 in the last quarter. Invesco Ltd. raised its position in GoDaddy by 11.6% in the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock valued at $575,122,000 after buying an additional 304,033 shares during the last quarter. Finally, Norges Bank acquired a new stake in GoDaddy in the 4th quarter valued at approximately $356,038,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

Shares of GDDY traded down $1.80 during mid-day trading on Wednesday, hitting $179.06. 930,385 shares of the company's stock were exchanged, compared to its average volume of 1,484,135. 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 firm has a market cap of $25.51 billion, a price-to-earnings ratio of 27.76 and a beta of 1.13. The stock's 50-day simple moving average is $179.43 and its 200-day simple moving average is $189.58. GoDaddy Inc. has a 52 week low of $135.73 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last issued 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 business 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 company's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.76 EPS. On average, equities research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $90,330.00. Following the completion of the sale, the director now owns 22,121 shares of the company's stock, valued at approximately $3,996,379.86. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $541,980.00. Following the transaction, the chief executive officer now owns 505,649 shares of the company's stock, valued at approximately $91,350,548.34. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,526 shares of company stock worth $10,243,716. Corporate insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

GDDY has been the subject of several research reports. Barclays decreased their price target on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company initiated coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price objective for the company. JPMorgan Chase & Co. upped their target price on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Citigroup lowered their price target on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Royal Bank of Canada cut their price objective on GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $214.86.

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.