GoDaddy Inc. (NYSE:GDDY) Stock Holdings Lifted by Merit Financial Group LLC

Merit Financial Group LLC lifted its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 109.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,070 shares of the technology company's stock after buying an additional 1,603 shares during the period. Merit Financial Group LLC's holdings in GoDaddy were worth $553,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GDDY. Norges Bank bought a new stake in GoDaddy in the 4th quarter worth approximately $356,038,000. Canada Pension Plan Investment Board raised its position in GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after purchasing an additional 719,000 shares in the last quarter. Congress Asset Management Co. bought a new stake in GoDaddy during the 4th quarter valued at $111,923,000. GAMMA Investing LLC raised its position in shares of GoDaddy by 18,248.7% in the 1st quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock worth $92,516,000 after acquiring an additional 510,780 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position 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 acquiring an additional 507,374 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GDDY has been the topic of a number of research reports. Piper Sandler increased their price objective on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Citigroup reduced their target price on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a report on Friday, April 25th. Morgan Stanley reduced their price objective 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. Finally, Jefferies Financial Group reduced their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and an average target price of $214.86.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $989,175.00. Following the sale, the chief financial officer now owns 115,375 shares of the company's stock, valued at $20,750,193.75. The trade was a 4.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 68,632 shares of company stock valued at $12,426,675 over the last quarter. Corporate insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

Shares of GDDY traded down $2.20 during mid-day trading on Friday, reaching $175.57. 1,271,912 shares of the company's stock traded hands, compared to its average volume of 1,477,161. The business's 50-day moving average price is $179.95 and its 200-day moving average price is $188.94. The stock has a market capitalization of $25.02 billion, a P/E ratio of 27.22 and a beta of 1.07. 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 $135.73 and a 12 month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly 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 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 business's quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $2.76 EPS. Equities analysts predict 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.