US Bancorp DE Has $10.48 Million Stake in GoDaddy Inc. (NYSE:GDDY)

US Bancorp DE increased its position in GoDaddy Inc. (NYSE:GDDY) by 41.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 53,117 shares of the technology company’s stock after purchasing an additional 15,659 shares during the period. US Bancorp DE’s holdings in GoDaddy were worth $10,484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quent Capital LLC boosted its stake in GoDaddy by 4.4% in the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after purchasing an additional 53 shares during the period. Lake Street Advisors Group LLC lifted its position in GoDaddy by 4.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after buying an additional 64 shares in the last quarter. New York Life Investment Management LLC lifted its position in GoDaddy by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after buying an additional 71 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in GoDaddy by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after buying an additional 73 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in GoDaddy by 13.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock worth $146,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY opened at $177.53 on Tuesday. The company has a market capitalization of $25.09 billion, a PE ratio of 27.52 and a beta of 1.15. GoDaddy Inc. has a one year low of $108.38 and a one year high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company’s fifty day moving average price is $197.96 and its 200 day moving average price is $182.06.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion during 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, analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $203.90, for a total transaction of $316,860.60. Following the sale, the chief accounting officer now directly owns 21,505 shares in the company, valued at approximately $4,384,869.50. The trade was a 6.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $207.35, for a total transaction of $207,350.00. Following the sale, the chief operating officer now owns 184,632 shares in the company, valued at approximately $38,283,445.20. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,534 shares of company stock worth $3,533,720 in the last ninety days. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GDDY shares. Barclays increased their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Raymond James increased their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. 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 report on Friday, January 3rd. JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company initiated coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Seven investment 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

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.