Mesirow Financial Investment Management Inc. Buys New Position in GoDaddy Inc. (NYSE:GDDY)

Mesirow Financial Investment Management Inc. bought a new stake in GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,142 shares of the technology company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the 3rd quarter valued at about $27,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the 3rd quarter valued at about $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy in the 4th quarter valued at about $43,000. Friedenthal Financial purchased a new stake in GoDaddy in the 4th quarter valued at about $49,000. Finally, Huntington National Bank grew its holdings in shares of GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY opened at $175.52 on Monday. The business’s 50 day moving average is $195.50 and its two-hundred day moving average is $182.38. GoDaddy Inc. has a 52-week low of $113.01 and a 52-week high of $216.00. The firm has a market cap of $24.81 billion, a price-to-earnings ratio of 27.21 and a beta of 1.25. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of research reports. Barclays boosted their target price on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Wells Fargo & Company initiated coverage on GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Morgan Stanley boosted their target price on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Piper Sandler boosted their target price on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Benchmark boosted their target price on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Insider Buying and Selling at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the sale, the chief operating officer now directly owns 184,632 shares in the company, valued at approximately $38,283,445.20. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock valued at $3,849,169 in the last three months. Corporate insiders own 0.61% of the company’s stock.

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.