Pitcairn Co. Boosts Stock Position in GoDaddy Inc. (NYSE:GDDY)

Pitcairn Co. lifted its position in GoDaddy Inc. (NYSE:GDDY) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,911 shares of the technology company’s stock after purchasing an additional 1,222 shares during the quarter. Pitcairn Co.’s holdings in GoDaddy were worth $3,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GDDY. ExodusPoint Capital Management LP acquired a new position in GoDaddy during the fourth quarter valued at $4,138,000. Motley Fool Asset Management LLC boosted its stake in shares of GoDaddy by 11.4% in the fourth quarter. Motley Fool Asset Management LLC now owns 3,197 shares of the technology company’s stock worth $631,000 after buying an additional 328 shares during the last quarter. OneAscent Financial Services LLC purchased a new stake in shares of GoDaddy in the fourth quarter worth about $201,000. Kesler Norman & Wride LLC raised its position in GoDaddy by 34.3% during the fourth quarter. Kesler Norman & Wride LLC now owns 4,978 shares of the technology company’s stock valued at $983,000 after acquiring an additional 1,270 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in GoDaddy by 13.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 45,242 shares of the technology company’s stock valued at $8,929,000 after acquiring an additional 5,457 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. B. Riley lifted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Citigroup increased their target price on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company started coverage on GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Seven research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $213.20.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the sale, the chief operating officer now owns 257,949 shares of the company’s stock, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now directly owns 22,621 shares in the company, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,480 shares of company stock valued at $2,024,939 over the last ninety days. Company insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

GDDY opened at $180.48 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. The firm’s 50-day moving average price is $188.41 and its 200 day moving average price is $184.78. The firm has a market capitalization of $25.51 billion, a PE ratio of 27.98 and a beta of 1.25. GoDaddy Inc. has a twelve month low of $119.76 and a twelve month high of $216.00.

GoDaddy (NYSE:GDDY) last issued its 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 analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

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.