Quantinno Capital Management LP Increases Stake in GoDaddy Inc. (NYSE:GDDY)

Quantinno Capital Management LP increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,657 shares of the technology company's stock after acquiring an additional 1,854 shares during the period. Quantinno Capital Management LP's holdings in GoDaddy were worth $3,090,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GDDY. WCM Investment Management LLC boosted its stake in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after acquiring an additional 3,356,678 shares in the last quarter. Norges Bank bought a new stake in GoDaddy during the fourth quarter worth about $356,038,000. Canada Pension Plan Investment Board boosted its stake in GoDaddy by 107.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock worth $273,582,000 after acquiring an additional 719,000 shares in the last quarter. Congress Asset Management Co. bought a new stake in GoDaddy during the fourth quarter worth about $111,923,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in GoDaddy by 88.2% during the fourth 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. Institutional investors own 90.28% of the company's stock.

Insider Activity

In other GoDaddy news, Director Brian Sharples sold 500 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the completion of the sale, the director now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the sale, the chief operating officer now directly owns 257,949 shares of the company's stock, valued at approximately $44,937,295.29. This represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,526 shares of company stock valued at $10,243,716 over the last three months. Insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GDDY shares. B. Riley boosted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Wells Fargo & Company started coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 target price on the stock. Barclays dropped their target price on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Jefferies Financial Group dropped their target price on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Finally, Royal Bank of Canada dropped their target price on shares of GoDaddy from $230.00 to $225.00 and set an "outperform" rating on the stock in a research note 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $214.86.

GoDaddy Stock Down 0.2%

GDDY opened at $189.86 on Tuesday. 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 50 day moving average price of $178.78 and a 200-day moving average price of $189.31. GoDaddy Inc. has a twelve month low of $135.03 and a twelve month high of $216.00. The stock has a market capitalization of $27.05 billion, a price-to-earnings ratio of 29.44 and a beta of 1.13.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share 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 company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the firm earned $2.76 earnings per share. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts forecast 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.

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