GoDaddy Inc. (NYSE:GDDY) Shares Purchased by Redwood Investment Management LLC

Redwood Investment Management LLC grew its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 221.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,588 shares of the technology company's stock after buying an additional 6,606 shares during the period. Redwood Investment Management LLC's holdings in GoDaddy were worth $1,892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. WCM Investment Management LLC boosted its stake in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock worth $678,941,000 after buying an additional 3,356,678 shares during the period. Norges Bank purchased a new position in GoDaddy during the 4th quarter worth $356,038,000. Canada Pension Plan Investment Board raised its position in GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after purchasing an additional 719,000 shares in the last quarter. Congress Asset Management Co. bought a new stake in GoDaddy during the 4th quarter valued at $111,923,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of GoDaddy by 88.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock worth $213,630,000 after buying an additional 507,374 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Activity at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $90,330.00. Following the transaction, the director now directly owns 22,121 shares of the company's stock, valued at approximately $3,996,379.86. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $541,980.00. Following the completion of the transaction, the chief executive officer now owns 505,649 shares of the company's stock, valued at approximately $91,350,548.34. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,500 shares of company stock valued at $10,050,555 in the last three months. 0.61% of the stock is owned by insiders.

GoDaddy Stock Down 0.2%

Shares of GDDY stock traded down $0.34 during trading hours on Monday, reaching $189.86. 781,974 shares of the company's stock were exchanged, compared to its average volume of 1,478,559. 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 company has a market cap of $27.05 billion, a price-to-earnings ratio of 29.44 and a beta of 1.13. GoDaddy Inc. has a fifty-two week low of $135.03 and a fifty-two week high of $216.00. The stock's 50 day moving average is $178.78 and its 200-day moving average is $189.31.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results 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). The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.76 earnings per share. Analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Piper Sandler raised their price target on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Citigroup cut their target price on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company started coverage on shares of GoDaddy in a report on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price target for the company. StockNews.com downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, B. Riley boosted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $214.86.

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.