Park Avenue Securities LLC Grows Stake in GoDaddy Inc. (NYSE:GDDY)

Park Avenue Securities LLC grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 109.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,560 shares of the technology company’s stock after acquiring an additional 8,650 shares during the period. Park Avenue Securities LLC’s holdings in GoDaddy were worth $3,268,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GDDY. Fiera Capital Corp increased its holdings in GoDaddy by 1.6% in the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after acquiring an additional 13,206 shares during the last quarter. Choreo LLC bought a new position in GoDaddy during the second quarter worth about $205,000. American Century Companies Inc. increased its stake in shares of GoDaddy by 374.3% in the second quarter. American Century Companies Inc. now owns 150,451 shares of the technology company’s stock worth $21,020,000 after purchasing an additional 118,731 shares in the last quarter. Parallel Advisors LLC raised its position in shares of GoDaddy by 12.9% in the second quarter. Parallel Advisors LLC now owns 2,236 shares of the technology company’s stock valued at $312,000 after purchasing an additional 256 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of GoDaddy by 20.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 37,661 shares of the technology company’s stock valued at $5,262,000 after purchasing an additional 6,313 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on GDDY shares. Piper Sandler raised their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Jefferies Financial Group boosted their price objective on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Morgan Stanley lifted their target price on GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a report on Monday. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $194.14.

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This represents a 2.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the transaction, the chief operating officer now owns 185,632 shares in the company, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,003 shares of company stock worth $4,462,363. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Trading Up 0.8 %

Shares of GDDY opened at $200.79 on Friday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 1-year low of $103.64 and a 1-year high of $211.11. The company has a market capitalization of $28.19 billion, a P/E ratio of 15.52 and a beta of 1.15. The firm’s 50 day simple moving average is $198.34 and its 200 day simple moving average is $170.58.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS. Sell-side analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

GoDaddy Company 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.