Abacus FCF Advisors LLC Buys New Stake in GoDaddy Inc. (NYSE:GDDY)

Abacus FCF Advisors LLC bought a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 57,175 shares of the technology company's stock, valued at approximately $10,300,000. GoDaddy makes up approximately 1.6% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 27th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake 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 worth $751,778,000 after acquiring an additional 395,160 shares during the last quarter. Geode Capital Management LLC raised its holdings in GoDaddy by 2.7% in 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 during the period. Invesco Ltd. lifted its position in GoDaddy by 11.6% during the fourth quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock worth $575,122,000 after buying an additional 304,033 shares in the last quarter. Norges Bank acquired a new position in GoDaddy in the fourth quarter valued at approximately $356,038,000. Finally, Northern Trust Corp increased its position in shares of GoDaddy by 8.8% during the 4th quarter. Northern Trust Corp now owns 1,430,180 shares of the technology company's stock worth $282,275,000 after purchasing an additional 115,341 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total value of $171,750.00. Following the sale, the chief operating officer now owns 256,949 shares in the company, valued at $44,130,990.75. The trade was a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $89,925.00. Following the sale, the director now directly owns 21,621 shares in the company, valued at $3,888,536.85. The trade was a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,459 shares of company stock worth $12,214,374 in the last ninety days. 0.61% of the stock is currently owned by insiders.

GoDaddy Trading Down 0.9%

Shares of NYSE:GDDY traded down $1.54 during midday trading on Wednesday, reaching $176.89. The company's stock had a trading volume of 1,671,081 shares, compared to its average volume of 1,478,092. 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 $135.73 and a fifty-two week high of $216.00. The firm has a 50 day moving average price of $179.64 and a two-hundred day moving average price of $189.08. The firm has a market capitalization of $25.20 billion, a price-to-earnings ratio of 27.42 and a beta of 1.07.

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

Analysts Set New Price Targets

Several equities analysts have commented on GDDY shares. Wall Street Zen downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Jefferies Financial Group reduced their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 7th. B. Riley upped their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Barclays lowered their price target on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Seven equities research 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.com, GoDaddy presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.86.

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.