Elo Mutual Pension Insurance Co Increases Stock Position in GoDaddy Inc. (NYSE:GDDY)

Elo Mutual Pension Insurance Co lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 16.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,528 shares of the technology company’s stock after purchasing an additional 2,009 shares during the period. Elo Mutual Pension Insurance Co’s holdings in GoDaddy were worth $2,867,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GDDY. Quent Capital LLC increased its stake in shares of GoDaddy by 4.4% during 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 in the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of GoDaddy by 4.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after purchasing an additional 64 shares during the period. New York Life Investment Management LLC raised its stake in shares of 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 valued at $3,708,000 after acquiring an additional 71 shares during the period. Metis Global Partners LLC raised its position in GoDaddy by 1.1% in the fourth 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 during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of GoDaddy by 13.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock valued at $146,000 after buying an additional 88 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of analyst reports. UBS Group increased their price target on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Jefferies Financial Group boosted their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays increased their target price on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Raymond James boosted their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, B. Riley upped their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Price Performance

Shares of GDDY opened at $178.89 on Friday. The stock has a market capitalization of $25.29 billion, a P/E ratio of 27.73 and a beta of 1.25. GoDaddy Inc. has a twelve month low of $118.39 and a twelve month high of $216.00. The company has a 50 day moving average of $189.80 and a 200-day moving average of $183.94. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last posted 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 business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. As a group, equities research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the sale, the chief financial officer now directly owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. The trade was a 6.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the sale, the chief operating officer now owns 257,949 shares in the company, valued at $44,937,295.29. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,480 shares of company stock valued at $3,816,029. 0.61% of the stock is currently owned by corporate insiders.

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.