Voya Investment Management LLC Increases Stake in GoDaddy Inc. (NYSE:GDDY)

Voya Investment Management LLC grew its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 333.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 396,934 shares of the technology company's stock after buying an additional 305,425 shares during the quarter. Voya Investment Management LLC owned 0.28% of GoDaddy worth $78,343,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Anchor Investment Management LLC purchased a new stake in GoDaddy in the third quarter valued at $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy during the 4th quarter worth approximately $43,000. Rakuten Securities Inc. lifted its holdings in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after buying an additional 165 shares in the last quarter. Friedenthal Financial purchased a new position in GoDaddy in the 4th quarter valued at approximately $49,000. Finally, OFI Invest Asset Management acquired a new position in shares of GoDaddy in the fourth quarter worth $52,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GDDY. Piper Sandler increased their price objective on GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Wells Fargo & Company initiated coverage on GoDaddy in a research note on Monday, February 3rd. They issued an "equal weight" rating and a $198.00 price objective for the company. Citigroup dropped their price objective 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. Barclays upped their price objective on GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Finally, Morgan Stanley cut their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $209.60.

Insider Buying and Selling

In related news, 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 transaction of $103,850.00. Following the transaction, the director now owns 22,621 shares of the company's stock, valued at approximately $4,698,381.70. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the completion of the sale, the chief executive officer now directly owns 330,153 shares of the company's stock, valued at $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,518,150 in the last ninety days. Insiders own 0.61% of the company's stock.

GoDaddy Price Performance

GoDaddy stock traded down $2.66 during midday trading on Wednesday, reaching $185.80. The company's stock had a trading volume of 353,116 shares, compared to its average volume of 1,468,584. The firm has a market capitalization of $26.26 billion, a PE ratio of 28.81 and a beta of 1.19. GoDaddy Inc. has a fifty-two week low of $120.59 and a fifty-two week high of $216.00. The stock's 50 day simple moving average is $175.77 and its 200 day simple moving average is $186.89. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. On average, equities research analysts forecast that GoDaddy Inc. will post 6.63 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.