Envestnet Portfolio Solutions Inc. Has $3.23 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Envestnet Portfolio Solutions Inc. boosted its holdings in GoDaddy Inc. (NYSE:GDDY) by 163.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,357 shares of the technology company’s stock after purchasing an additional 10,140 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in GoDaddy were worth $3,228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Quent Capital LLC boosted its position in GoDaddy by 4.4% in the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock valued at $248,000 after buying an additional 53 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of 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 acquiring an additional 64 shares in the last quarter. New York Life Investment Management LLC grew its position in GoDaddy by 0.4% during 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 acquiring an additional 71 shares during the last quarter. Metis Global Partners LLC increased its holdings in GoDaddy by 1.1% during the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock valued at $1,294,000 after purchasing an additional 74 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised 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 valued at $146,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the completion of the sale, the chief operating officer now owns 257,949 shares in the company, valued at $44,937,295.29. The trade was a 0.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,480 shares of company stock worth $3,816,029. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Benchmark boosted their target price on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Barclays increased their price target on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Citigroup lifted their price objective on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley boosted their price target on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $181.54 on Thursday. GoDaddy Inc. has a 12 month low of $118.39 and a 12 month high of $216.00. 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 company has a market capitalization of $25.66 billion, a PE ratio of 28.15 and a beta of 1.25. The stock’s fifty day simple moving average is $191.94 and its 200 day simple moving average is $182.90.

GoDaddy (NYSE:GDDY) last announced its quarterly 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 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 the consensus estimate of $1.18 billion. On average, research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

GoDaddy Company 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.