Horizon Investments LLC Increases Holdings in GoDaddy Inc. (NYSE:GDDY)

Horizon Investments LLC grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 570.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,812 shares of the technology company’s stock after purchasing an additional 10,900 shares during the period. Horizon Investments LLC’s holdings in GoDaddy were worth $2,529,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Anchor Investment Management LLC purchased a new position in shares of GoDaddy in the third quarter valued at about $31,000. Versant Capital Management Inc bought a new position in shares of GoDaddy during the fourth quarter valued at approximately $43,000. Rakuten Securities Inc. grew its stake in GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Huntington National Bank lifted its holdings in GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after buying an additional 230 shares during the period. Finally, Friedenthal Financial purchased a new stake in GoDaddy during the fourth quarter worth $49,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Down 1.1 %

GDDY stock opened at $178.18 on Wednesday. GoDaddy Inc. has a 12 month low of $118.14 and a 12 month high of $216.00. The firm has a market cap of $25.19 billion, a PE ratio of 27.63 and a beta of 1.25. The firm has a 50 day simple moving average of $192.25 and a 200 day simple moving average of $182.91. 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 earnings per share 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 research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the transaction, the chief executive officer now owns 333,153 shares in the company, valued at approximately $66,300,778.53. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $99,505.00. Following the transaction, the director now owns 23,121 shares in the company, valued at approximately $4,601,310.21. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,480 shares of company stock valued at $3,816,029 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on GDDY shares. Benchmark lifted their price target on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Barclays boosted their target price on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Morgan Stanley upped their price objective on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Jefferies Financial Group upped their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, B. Riley upped their price objective on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. 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 stock. Based on data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

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.