Rakuten Securities Inc. Buys 165 Shares of GoDaddy Inc. (NYSE:GDDY)

Rakuten Securities Inc. raised its stake in GoDaddy Inc. (NYSE:GDDY) by 311.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 218 shares of the technology company’s stock after buying an additional 165 shares during the quarter. Rakuten Securities Inc.’s holdings in GoDaddy were worth $43,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GDDY. Ashton Thomas Securities LLC bought a new position in GoDaddy in the third quarter valued at approximately $27,000. Anchor Investment Management LLC bought a new stake in shares of GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc bought a new stake in shares of GoDaddy in the fourth quarter worth $43,000. Huntington National Bank lifted its position in shares of GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares in the last quarter. Finally, Friedenthal Financial bought a new stake in shares of GoDaddy in the fourth quarter worth $49,000. Institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the topic of a number of research reports. Piper Sandler boosted their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Robert W. Baird boosted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Morgan Stanley boosted their price objective on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company assumed coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Price Performance

NYSE:GDDY opened at $174.48 on Thursday. GoDaddy Inc. has a one year low of $115.19 and a one year high of $216.00. The company has a market cap of $24.66 billion, a P/E ratio of 27.05 and a beta of 1.25. The firm’s fifty day moving average price is $194.00 and its two-hundred day moving average price is $182.46. 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 (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Equities analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $90,330.00. Following the transaction, the director now directly owns 22,121 shares in the company, valued at approximately $3,996,379.86. This represents a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the company’s 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 completion of the transaction, the chief operating officer now owns 184,632 shares in the company, valued at $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. Over the last three months, insiders have sold 19,480 shares of company stock worth $3,849,169. Corporate insiders own 0.61% of the company’s stock.

GoDaddy 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.