Harvest Fund Management Co. Ltd Grows Stock Position in GoDaddy Inc. (NYSE:GDDY)

Harvest Fund Management Co. Ltd boosted its position in GoDaddy Inc. (NYSE:GDDY) by 133.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,930 shares of the technology company’s stock after buying an additional 14,240 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in GoDaddy were worth $4,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Quent Capital LLC grew its position in shares of GoDaddy by 4.4% in the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock valued at $248,000 after purchasing an additional 53 shares in the last quarter. Lake Street Advisors Group LLC grew its position in shares of GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock valued at $283,000 after purchasing an additional 64 shares in the last quarter. New York Life Investment Management LLC grew its position in shares of GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock valued at $3,708,000 after purchasing an additional 71 shares in the last quarter. Metis Global Partners LLC grew its position in shares of GoDaddy by 1.1% in the fourth quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock valued at $1,294,000 after purchasing an additional 74 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of GoDaddy by 13.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock valued at $146,000 after purchasing an additional 88 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $597,030.00. Following the sale, the chief executive officer now owns 333,153 shares in the company, valued at $66,300,778.53. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total transaction of $200,570.00. Following the sale, the chief operating officer now owns 183,632 shares in the company, valued at approximately $36,831,070.24. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock worth $3,816,029 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Piper Sandler lifted their price target on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Barclays lifted their price target on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. UBS Group lifted their price objective on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Stock Down 1.1 %

Shares of NYSE GDDY opened at $178.18 on Wednesday. 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 Inc. has a 52 week low of $118.14 and a 52 week high of $216.00. The firm’s fifty day moving average is $192.25 and its 200 day moving average is $182.91. The company has a market cap of $25.19 billion, a price-to-earnings ratio of 27.63 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, equities research analysts expect 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.