Los Angeles Capital Management LLC Acquires 714,075 Shares of GoDaddy Inc. (NYSE:GDDY)

Los Angeles Capital Management LLC grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 7,379.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 723,752 shares of the technology company’s stock after purchasing an additional 714,075 shares during the quarter. Los Angeles Capital Management LLC owned about 0.51% of GoDaddy worth $76,834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ameriprise Financial Inc. raised its holdings in shares of GoDaddy by 9.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after purchasing an additional 561,614 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after acquiring an additional 695,897 shares during the last quarter. Bank of New York Mellon Corp lifted its position in GoDaddy by 88.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after acquiring an additional 674,719 shares during the last quarter. Northern Trust Corp lifted its position in GoDaddy by 36.8% during the 3rd quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock worth $103,946,000 after acquiring an additional 375,568 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after acquiring an additional 928,273 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

NYSE GDDY traded up $1.26 on Thursday, reaching $123.55. The company’s stock had a trading volume of 1,138,060 shares, compared to its average volume of 1,445,965. The firm has a market cap of $17.60 billion, a PE ratio of 12.77 and a beta of 1.08. The business has a 50-day moving average price of $119.59 and a 200 day moving average price of $105.98. GoDaddy Inc. has a 52 week low of $67.43 and a 52 week high of $127.15. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. Sell-side analysts expect that GoDaddy Inc. will post 4.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Evercore ISI lowered shares of GoDaddy from an “outperform” rating to an “in-line” rating and boosted their target price for the stock from $100.00 to $110.00 in a research report on Wednesday, February 14th. Royal Bank of Canada reissued an “outperform” rating and set a $124.00 target price on shares of GoDaddy in a research report on Thursday, March 7th. UBS Group boosted their price objective on shares of GoDaddy from $110.00 to $118.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Morgan Stanley boosted their price objective on shares of GoDaddy from $120.00 to $132.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Finally, Benchmark restated a “buy” rating and set a $150.00 price objective on shares of GoDaddy in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $135.18.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $118.56, for a total transaction of $474,240.00. Following the sale, the chief operating officer now directly owns 204,632 shares of the company’s stock, valued at $24,261,169.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other GoDaddy news, CFO Mark Mccaffrey sold 28,392 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $3,138,451.68. Following the sale, the chief financial officer now directly owns 120,952 shares of the company’s stock, valued at $13,370,034.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $118.56, for a total transaction of $474,240.00. Following the sale, the chief operating officer now directly owns 204,632 shares in the company, valued at $24,261,169.92. The disclosure for this sale can be found here. Insiders have sold a total of 121,234 shares of company stock valued at $13,534,946 over the last quarter. 0.54% of the stock is owned by company insiders.

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.