Empowered Funds LLC Increases Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

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

Several other large investors have also bought and sold shares of the stock. State Street Corp increased its position in shares of GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after acquiring an additional 147,105 shares during the last quarter. Geode Capital Management LLC grew its stake in GoDaddy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after purchasing an additional 84,550 shares during the period. FMR LLC increased its position in shares of GoDaddy by 19.8% during the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of GoDaddy by 17.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after purchasing an additional 203,909 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in GoDaddy by 25.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 575,007 shares of the technology company’s stock valued at $90,150,000 after buying an additional 117,028 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the sale, the chief operating officer now owns 185,632 shares in the company, valued at approximately $34,119,161.60. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 2,678 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $526,601.92. Following the transaction, the chief financial officer now directly owns 89,800 shares of the company’s stock, valued at $17,658,272. The trade was a 2.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,483 shares of company stock valued at $4,893,633 in the last three months. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on GDDY shares. Piper Sandler lifted their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Citigroup lifted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Benchmark boosted their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price target on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $198.53.

GoDaddy Price Performance

GDDY stock opened at $211.14 on Monday. The firm has a 50 day moving average of $204.17 and a 200-day moving average of $178.19. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a market capitalization of $29.64 billion, a P/E ratio of 16.32 and a beta of 1.15. GoDaddy Inc. has a 12 month low of $107.92 and a 12 month high of $216.00.

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.