Geode Capital Management LLC Acquires 90,810 Shares of GoDaddy Inc. (NYSE:GDDY)

Geode Capital Management LLC boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,514,432 shares of the technology company’s stock after acquiring an additional 90,810 shares during the quarter. Geode Capital Management LLC owned about 2.50% of GoDaddy worth $692,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GDDY. Anchor Investment Management LLC purchased a new stake in GoDaddy during the 3rd quarter valued at $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy in the fourth quarter valued at $43,000. Rakuten Securities Inc. raised its stake in shares of GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after acquiring an additional 165 shares during the period. Friedenthal Financial bought a new stake in shares of GoDaddy in the 4th quarter worth about $49,000. Finally, OFI Invest Asset Management purchased a new position in shares of GoDaddy during the 4th quarter worth about $52,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total value of $200,570.00. Following the sale, the chief operating officer now directly owns 183,632 shares of the company’s stock, valued at approximately $36,831,070.24. 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, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now owns 22,621 shares of the company’s stock, valued at $4,698,381.70. The trade was a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,480 shares of company stock worth $2,024,939 over the last quarter. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $180.48 on Thursday. The firm has a 50 day moving average of $188.41 and a 200 day moving average of $184.78. GoDaddy Inc. has a 52 week low of $119.76 and a 52 week high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The company has a market capitalization of $25.51 billion, a price-to-earnings ratio of 27.98 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. On average, sell-side analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Benchmark raised their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Barclays boosted their price objective on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Raymond James increased their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Morgan Stanley boosted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Finally, Piper Sandler raised their price target on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

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.