Strategic Global Advisors LLC Grows Position in GoDaddy Inc. (NYSE:GDDY)

Strategic Global Advisors LLC boosted its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 4.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,708 shares of the technology company's stock after buying an additional 2,199 shares during the quarter. GoDaddy makes up about 2.0% of Strategic Global Advisors LLC's holdings, making the stock its 12th biggest holding. Strategic Global Advisors LLC's holdings in GoDaddy were worth $10,798,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GDDY. Quent Capital LLC boosted its stake in shares of GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock valued at $248,000 after purchasing an additional 53 shares in the last quarter. Advisors Capital Management LLC lifted its stake in shares of GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock valued at $1,223,000 after purchasing an additional 55 shares during the period. BNP Paribas boosted its position in shares of GoDaddy by 2.9% during the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock valued at $417,000 after purchasing an additional 59 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock worth $283,000 after purchasing an additional 64 shares during the period. Finally, New York Life Investment Management LLC lifted its position in GoDaddy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock valued at $3,708,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of recent research reports. Benchmark reissued a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Barclays dropped their price target 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. UBS Group lifted their target price on shares of GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. StockNews.com cut shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Seven investment 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 data from MarketBeat, GoDaddy has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

Insider Buying and Selling at GoDaddy

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 value of $989,175.00. Following the transaction, the chief financial officer now directly owns 115,375 shares of the company's stock, valued at approximately $20,750,193.75. The trade was a 4.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 505,649 shares in the company, valued at $91,350,548.34. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,526 shares of company stock valued at $10,243,716 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Performance

GoDaddy stock traded down $1.62 during trading on Tuesday, reaching $188.26. The company had a trading volume of 1,126,799 shares, compared to its average volume of 1,479,951. The firm has a market capitalization of $26.82 billion, a price-to-earnings ratio of 29.19 and a beta of 1.13. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The firm's 50-day simple moving average is $179.11 and its 200 day simple moving average is $189.30. 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 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 return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business earned $2.76 EPS. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal 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.