Mercer Global Advisors Inc. ADV Grows Stake in GoDaddy Inc. (NYSE:GDDY)

Mercer Global Advisors Inc. ADV grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,438 shares of the technology company's stock after purchasing an additional 2,769 shares during the period. Mercer Global Advisors Inc. ADV's holdings in GoDaddy were worth $12,718,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of GoDaddy by 28.7% during the third quarter. Barclays PLC now owns 447,425 shares of the technology company's stock worth $70,147,000 after buying an additional 99,734 shares during the period. Anchor Investment Management LLC acquired a new stake in GoDaddy during the 3rd quarter worth about $31,000. Wilmington Savings Fund Society FSB acquired a new stake in GoDaddy during the 3rd quarter worth about $922,000. Tidal Investments LLC grew its stake in GoDaddy by 38.7% during the 3rd quarter. Tidal Investments LLC now owns 18,643 shares of the technology company's stock valued at $2,923,000 after purchasing an additional 5,205 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of GoDaddy by 10.2% in the third quarter. Franklin Resources Inc. now owns 417,902 shares of the technology company's stock worth $68,565,000 after purchasing an additional 38,511 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the transaction, the chief executive officer now directly owns 330,153 shares of the company's stock, valued at $68,572,778.10. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the sale, the director now owns 22,621 shares of the company's stock, valued at $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock worth $3,518,150. 0.61% of the stock is owned by corporate insiders.

GoDaddy Stock Down 8.4 %

Shares of NYSE GDDY opened at $176.27 on Friday. The firm has a market cap of $24.92 billion, a price-to-earnings ratio of 27.33 and a beta of 1.13. The company's 50-day simple moving average is $176.43 and its 200-day simple moving average is $187.19. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 52-week low of $122.04 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 earnings per share (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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $2.76 earnings per share. The company's quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GDDY shares. StockNews.com lowered GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a report on Monday. Piper Sandler raised their target price on shares of GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday. UBS Group boosted their target price on shares of GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, Royal Bank of Canada cut their price target on GoDaddy from $230.00 to $225.00 and set an "outperform" rating on the stock in a research report on Friday. 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $208.93.

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.

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