Los Angeles Capital Management LLC Raises Holdings in GoDaddy Inc. (NYSE:GDDY)

Los Angeles Capital Management LLC raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 7,379.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 723,752 shares of the technology company's stock after acquiring an additional 714,075 shares during the period. Los Angeles Capital Management LLC owned about 0.51% of GoDaddy worth $76,834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GDDY. Federated Hermes Inc. boosted its stake in shares of GoDaddy by 3,402.0% during the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company's stock valued at $101,442,000 after purchasing an additional 928,273 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of GoDaddy by 71.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company's stock valued at $123,963,000 after purchasing an additional 695,897 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of GoDaddy by 88.7% during the third quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company's stock valued at $106,890,000 after purchasing an additional 674,719 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of GoDaddy by 9.7% during the third quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company's stock valued at $473,713,000 after purchasing an additional 561,614 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of GoDaddy by 3,382.2% during the third quarter. Principal Financial Group Inc. now owns 546,359 shares of the technology company's stock valued at $40,693,000 after purchasing an additional 530,669 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Roger Chen sold 4,000 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the transaction, the chief operating officer now directly owns 208,632 shares in the company, valued at $23,806,997.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Mark Mccaffrey sold 624 shares of GoDaddy stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the completion of the sale, the chief financial officer now directly owns 116,328 shares in the company, valued at approximately $14,055,912.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the sale, the chief operating officer now owns 208,632 shares of the company's stock, valued at $23,806,997.52. The disclosure for this sale can be found here. Insiders sold 121,234 shares of company stock worth $13,534,946 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on GDDY shares. Morgan Stanley raised their price target on GoDaddy from $120.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 14th. UBS Group raised their price target on GoDaddy from $110.00 to $118.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. Piper Sandler raised their price target on GoDaddy from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, March 7th. Raymond James started coverage on GoDaddy in a research note on Wednesday, March 27th. They issued a "strong-buy" rating and a $150.00 price target for the company. Finally, Benchmark reaffirmed a "buy" rating and issued a $150.00 price target on shares of GoDaddy in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $135.18.

GoDaddy Stock Up 1.6 %

Shares of NYSE:GDDY traded up $2.01 on Thursday, hitting $124.30. 2,026,817 shares of the company traded hands, compared to its average volume of 1,457,099. GoDaddy Inc. has a 52 week low of $67.43 and a 52 week high of $127.15. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. The stock has a 50 day simple moving average of $119.81 and a 200-day simple moving average of $106.11. The company has a market cap of $17.71 billion, a PE ratio of 12.97 and a beta of 1.08.

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