GoDaddy Inc. (NYSE:GDDY) Stock Position Boosted by Vestcor Inc

Vestcor Inc boosted its stake in GoDaddy Inc. (NYSE:GDDY) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,890 shares of the technology company’s stock after acquiring an additional 2,641 shares during the quarter. Vestcor Inc’s holdings in GoDaddy were worth $6,689,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rakuten Securities Inc. grew its position in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after buying an additional 165 shares in the last quarter. Avantax Advisory Services Inc. grew its position in GoDaddy by 16.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,863 shares of the technology company’s stock valued at $565,000 after buying an additional 398 shares in the last quarter. Farther Finance Advisors LLC grew its position in GoDaddy by 1,096.5% in the 4th quarter. Farther Finance Advisors LLC now owns 3,434 shares of the technology company’s stock valued at $678,000 after buying an additional 3,147 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in GoDaddy by 38.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,586 shares of the technology company’s stock valued at $510,000 after buying an additional 719 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in GoDaddy by 25.7% in the 4th quarter. HighTower Advisors LLC now owns 20,604 shares of the technology company’s stock valued at $4,067,000 after buying an additional 4,219 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

GDDY stock opened at $174.48 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a one year low of $115.19 and a one year high of $216.00. The firm has a market capitalization of $24.66 billion, a PE ratio of 27.05 and a beta of 1.25. The firm has a 50-day moving average of $194.00 and a two-hundred day moving average of $182.46.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The company 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, analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GDDY shares. Citigroup increased their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Piper Sandler raised their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Wells Fargo & Company initiated coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective for the company. Finally, B. Riley raised their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the sale, the chief operating officer now directly owns 184,632 shares of the company’s stock, valued at $38,283,445.20. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the sale, the chief financial officer now owns 84,300 shares of the company’s stock, valued at $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock valued at $3,849,169 over the last three months. 0.61% of the stock is owned by corporate 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.