Parallel Advisors LLC Has $481,000 Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Parallel Advisors LLC cut its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,435 shares of the technology company’s stock after selling 123 shares during the period. Parallel Advisors LLC’s holdings in GoDaddy were worth $481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cibc World Markets Corp raised its position in shares of GoDaddy by 16.1% during the fourth quarter. Cibc World Markets Corp now owns 22,205 shares of the technology company’s stock worth $4,383,000 after purchasing an additional 3,080 shares during the period. Gallacher Capital Management LLC acquired a new stake in shares of GoDaddy during the fourth quarter worth $265,000. Corient Private Wealth LLC raised its position in shares of GoDaddy by 11.7% during the fourth quarter. Corient Private Wealth LLC now owns 7,683 shares of the technology company’s stock worth $1,516,000 after purchasing an additional 807 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of GoDaddy by 163.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 16,357 shares of the technology company’s stock worth $3,228,000 after purchasing an additional 10,140 shares during the period. Finally, Natixis Advisors LLC raised its position in shares of GoDaddy by 260.7% during the fourth quarter. Natixis Advisors LLC now owns 109,682 shares of the technology company’s stock worth $21,648,000 after purchasing an additional 79,273 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the sale, the chief operating officer now owns 183,632 shares in the company, valued at $36,831,070.24. This represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $597,030.00. Following the sale, the chief executive officer now owns 333,153 shares of the company’s stock, valued at approximately $66,300,778.53. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,480 shares of company stock worth $3,816,029. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on GDDY shares. Morgan Stanley upped their price target on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. UBS Group upped their price target on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, Barclays upped their price target on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Stock Performance

GDDY opened at $180.72 on Friday. The company has a market cap of $25.55 billion, a PE ratio of 28.02 and a beta of 1.25. The stock has a 50-day moving average of $191.62 and a 200-day moving average of $182.88. GoDaddy Inc. has a 52-week low of $118.39 and a 52-week high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY) last released its quarterly 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). The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.