Marshall Wace LLP Acquires New Holdings in GoDaddy Inc. (NYSE:GDDY)

Marshall Wace LLP acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,800 shares of the technology company's stock, valued at approximately $1,145,000.

A number of other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in GoDaddy by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock worth $692,245,000 after acquiring an additional 90,810 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after purchasing an additional 3,356,678 shares during the period. Invesco Ltd. increased its position in shares of GoDaddy by 11.6% during the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock worth $575,122,000 after purchasing an additional 304,033 shares during the last quarter. Norges Bank purchased a new stake in GoDaddy in the 4th quarter valued at about $356,038,000. Finally, Bank of New York Mellon Corp lifted its position in GoDaddy by 2.9% in the fourth quarter. Bank of New York Mellon Corp now owns 949,691 shares of the technology company's stock valued at $187,441,000 after buying an additional 26,341 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GDDY shares. Piper Sandler boosted their price target on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday. Wells Fargo & Company began coverage on GoDaddy in a research note on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price target on the stock. Benchmark restated a "buy" rating on shares of GoDaddy in a research report on Monday. StockNews.com lowered GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Finally, Jefferies Financial Group dropped their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 7th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $208.93.

GoDaddy Stock Down 8.4 %

NYSE:GDDY traded down $16.09 during midday trading on Friday, hitting $176.27. 3,239,351 shares of the company were exchanged, compared to its average volume of 1,479,042. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a fifty-two week low of $122.04 and a fifty-two week high of $216.00. The company has a market capitalization of $24.92 billion, a PE ratio of 27.33 and a beta of 1.19. The company has a fifty day simple moving average of $176.43 and a 200 day simple moving average of $187.10.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the firm earned $2.76 earnings per share. The business's revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy 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 owns 256,949 shares of the company's stock, valued at approximately $44,130,990.75. The trade was a 0.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now owns 22,621 shares of the company's stock, valued at $4,698,381.70. The trade was a 2.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,000 shares of company stock worth $3,518,150. 0.61% of the stock is currently owned by insiders.

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.