Trust Point Inc. Takes Position in GoDaddy Inc. (NYSE:GDDY)

Trust Point Inc. purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,870 shares of the technology company’s stock, valued at approximately $961,000.

Several other large investors have also recently added to or reduced their stakes in GDDY. Principal Financial Group Inc. raised its position in shares of GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares during the period. Highland Capital Management LLC bought a new position in GoDaddy during the 3rd quarter worth $1,132,000. CWA Asset Management Group LLC increased its position in GoDaddy by 29.2% in the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after buying an additional 3,631 shares during the period. Crossmark Global Holdings Inc. lifted its stake in GoDaddy by 28.0% in the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after buying an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd boosted its holdings in shares of GoDaddy by 39.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after acquiring an additional 17,021 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the transaction, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,483 shares of company stock worth $4,256,183. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

NYSE:GDDY opened at $210.65 on Wednesday. The company has a 50-day moving average of $203.41 and a 200-day moving average of $176.82. The firm has a market cap of $29.57 billion, a price-to-earnings ratio of 16.28 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a twelve month low of $107.47 and a twelve month high of $216.00.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GDDY shares. Morgan Stanley lifted their price objective on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Jefferies Financial Group lifted their price target on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup boosted their price objective on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $198.07.

GoDaddy 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.