Empowered Funds LLC Buys 14,278 Shares of GoDaddy Inc. (NYSE:GDDY)

Empowered Funds LLC boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 36.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,995 shares of the technology company’s stock after acquiring an additional 14,278 shares during the period. Empowered Funds LLC’s holdings in GoDaddy were worth $10,460,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted 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 acquiring an additional 6,424 shares in the last quarter. Highland Capital Management LLC bought a new stake in GoDaddy during the third quarter worth $1,132,000. CWA Asset Management Group LLC increased its stake in shares of GoDaddy by 29.2% in the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after purchasing an additional 3,631 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after buying an additional 9,631 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd lifted its position in shares of GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after buying an additional 17,021 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird boosted their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Jefferies Financial Group upped their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley raised their target price 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. Wells Fargo & Company assumed coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target for the company. Finally, Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $198.53.

GoDaddy Stock Performance

NYSE:GDDY opened at $211.14 on Monday. The company has a market capitalization of $29.64 billion, a PE ratio of 16.32 and a beta of 1.15. GoDaddy Inc. has a fifty-two week low of $107.92 and a fifty-two week high of $216.00. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The company has a 50 day simple moving average of $204.17 and a two-hundred day simple moving average of $178.19.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares in the company, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $98,885.00. Following the transaction, the director now owns 23,621 shares in the company, valued at $4,671,525.17. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,483 shares of company stock valued at $4,893,633 over the last quarter. Insiders own 0.61% of the company’s stock.

GoDaddy Company 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.