Global Endowment Management LP Takes Position in GoDaddy Inc. (NYSE:GDDY)

Global Endowment Management LP bought a new position in GoDaddy Inc. (NYSE:GDDYFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,797 shares of the technology company’s stock, valued at approximately $934,000.

A number of other hedge funds also recently bought and sold shares of the business. Victory Capital Management Inc. grew its stake in GoDaddy by 77.2% in the third quarter. Victory Capital Management Inc. now owns 76,517 shares of the technology company’s stock worth $5,699,000 after purchasing an additional 33,342 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of GoDaddy by 18.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 24,468 shares of the technology company’s stock worth $1,822,000 after acquiring an additional 3,736 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in GoDaddy by 15.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 63,351 shares of the technology company’s stock valued at $4,718,000 after acquiring an additional 8,421 shares during the period. Arizona State Retirement System boosted its stake in GoDaddy by 0.4% during the third quarter. Arizona State Retirement System now owns 39,966 shares of the technology company’s stock worth $2,977,000 after acquiring an additional 162 shares in the last quarter. Finally, Barclays PLC grew its holdings in GoDaddy by 24.9% in the third quarter. Barclays PLC now owns 155,571 shares of the technology company’s stock worth $11,586,000 after purchasing an additional 31,034 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GDDY. Citigroup upped their price target on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley raised their price target on GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Piper Sandler upped their price target on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, March 7th. Barclays lifted their target price on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $149.92.

Check Out Our Latest Research Report on GDDY

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $140.13, for a total value of $420,390.00. Following the sale, the chief financial officer now directly owns 109,473 shares in the company, valued at approximately $15,340,451.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Mark Mccaffrey sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $140.13, for a total transaction of $420,390.00. Following the transaction, the chief financial officer now owns 109,473 shares of the company’s stock, valued at approximately $15,340,451.49. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 59,608 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $6,589,068.32. Following the completion of the sale, the chief executive officer now owns 394,423 shares of the company’s stock, valued at $43,599,518.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,605 shares of company stock valued at $13,540,536. 0.61% of the stock is owned by corporate insiders.

GoDaddy Price Performance

Shares of NYSE:GDDY traded up $1.42 during midday trading on Friday, reaching $139.63. 3,967,233 shares of the company were exchanged, compared to its average volume of 1,079,215. The stock has a market cap of $19.92 billion, a PE ratio of 11.60 and a beta of 1.09. The business’s fifty day moving average is $128.22 and its two-hundred day moving average is $114.59. GoDaddy Inc. has a one year low of $69.18 and a one year high of $141.27. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDYGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.00 by $0.08. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. As a group, analysts predict that GoDaddy Inc. will post 4.82 earnings per share for the current year.

About GoDaddy

(Free Report)

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.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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