QRG Capital Management Inc. Acquires 8,295 Shares of GoDaddy Inc. (NYSE:GDDY)

QRG Capital Management Inc. increased its holdings in GoDaddy Inc. (NYSE:GDDY) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,635 shares of the technology company’s stock after purchasing an additional 8,295 shares during the quarter. QRG Capital Management Inc.’s holdings in GoDaddy were worth $17,889,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quent Capital LLC boosted its position in GoDaddy by 4.4% during the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock valued at $248,000 after acquiring an additional 53 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock valued at $283,000 after acquiring an additional 64 shares during the last quarter. New York Life Investment Management LLC boosted its position in GoDaddy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock valued at $3,708,000 after acquiring an additional 71 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position in GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in GoDaddy by 13.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock valued at $146,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 480 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the completion of the sale, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $194.28, for a total transaction of $194,280.00. Following the completion of the sale, the chief operating officer now directly owns 182,632 shares of the company’s stock, valued at $35,481,744.96. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,482 shares of company stock valued at $4,903,930. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on GDDY shares. Morgan Stanley upped their price target on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Citigroup upped their price target 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. B. Riley upped 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. Wells Fargo & Company assumed coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective on the stock. Finally, Benchmark upped their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Trading Up 0.2 %

GDDY opened at $176.99 on Thursday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a fifty-two week low of $108.38 and a fifty-two week high of $216.00. The firm has a market capitalization of $24.85 billion, a PE ratio of 27.44 and a beta of 1.15. The company’s 50-day moving average is $200.04 and its 200 day moving average is $181.59.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, research analysts predict that GoDaddy Inc. will post 6.63 earnings per share 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.