WCM Investment Management LLC Acquires 9,963 Shares of GoDaddy Inc. (NYSE:GDDY)

WCM Investment Management LLC boosted its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,010 shares of the technology company's stock after acquiring an additional 9,963 shares during the period. WCM Investment Management LLC owned 0.06% of GoDaddy worth $8,935,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of GoDaddy by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company's stock worth $1,356,131,000 after acquiring an additional 107,949 shares during the period. Starboard Value LP grew its position in GoDaddy by 23.9% in the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company's stock valued at $765,637,000 after buying an additional 1,973,118 shares in the last quarter. BlackRock Inc. grew its position in GoDaddy by 2.0% in the 1st quarter. BlackRock Inc. now owns 8,512,278 shares of the technology company's stock valued at $661,574,000 after buying an additional 163,174 shares in the last quarter. Ameriprise Financial Inc. grew its position in GoDaddy by 9.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company's stock valued at $473,713,000 after buying an additional 561,614 shares in the last quarter. Finally, Morgan Stanley grew its position in GoDaddy by 517.4% in the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company's stock valued at $458,311,000 after buying an additional 5,133,332 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on GDDY. Benchmark restated a "buy" rating and set a $150.00 price objective on shares of GoDaddy in a research report on Thursday, March 7th. Raymond James assumed coverage on shares of GoDaddy in a report on Wednesday, March 27th. They issued a "strong-buy" rating and a $150.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $128.00 to $136.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. Evercore ISI cut shares of GoDaddy from an "outperform" rating to an "in-line" rating and raised their target price for the stock from $100.00 to $110.00 in a report on Wednesday, February 14th. Finally, UBS Group raised their target price on shares of GoDaddy from $110.00 to $118.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $135.18.

GoDaddy Stock Down 2.6 %

Shares of NYSE GDDY traded down $3.31 during mid-day trading on Friday, reaching $123.30. The company had a trading volume of 1,349,315 shares, compared to its average volume of 1,183,282. The stock has a fifty day moving average of $116.54 and a two-hundred day moving average of $101.79. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $17.57 billion, a price-to-earnings ratio of 12.87 and a beta of 1.12. GoDaddy Inc. has a 12-month low of $67.43 and a 12-month high of $127.15.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.05. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. As a group, equities research analysts expect that GoDaddy Inc. will post 4.76 EPS for the current year.

Insider Activity at GoDaddy

In related news, CAO Nick Daddario sold 1,823 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the transaction, the chief accounting officer now owns 25,263 shares of the company's stock, valued at $2,792,572.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Amanpal Singh Bhutani sold 8,687 shares of GoDaddy stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $991,273.57. Following the transaction, the chief executive officer now owns 454,031 shares of the company's stock, valued at $51,809,477.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Nick Daddario sold 1,823 shares of GoDaddy stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the transaction, the chief accounting officer now directly owns 25,263 shares in the company, valued at approximately $2,792,572.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,234 shares of company stock valued at $13,534,946. 0.54% of the stock is currently owned by corporate insiders.

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.