GoDaddy Inc. (NYSE:GDDY) Shares Bought by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC grew its stake in GoDaddy Inc. (NYSE:GDDY) by 42.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,841 shares of the technology company’s stock after acquiring an additional 548 shares during the quarter. HighPoint Advisor Group LLC’s holdings in GoDaddy were worth $380,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth about $31,000. Versant Capital Management Inc acquired a new stake in GoDaddy during the fourth quarter worth approximately $43,000. Rakuten Securities Inc. grew its stake in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 165 shares during the period. Friedenthal Financial acquired a new position in GoDaddy in the 4th quarter valued at $49,000. Finally, OFI Invest Asset Management purchased a new position in shares of GoDaddy during the 4th quarter worth $52,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $180.48 on Thursday. 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 Inc. has a 1-year low of $119.76 and a 1-year high of $216.00. The company has a market capitalization of $25.51 billion, a price-to-earnings ratio of 27.98 and a beta of 1.25. The business has a 50-day moving average of $188.41 and a 200-day moving average of $184.78.

GoDaddy (NYSE:GDDY) last released 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). The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, equities analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the sale, the chief operating officer now directly owns 183,632 shares in the company, valued at $36,831,070.24. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 480 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the transaction, the chief financial officer now owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,480 shares of company stock valued at $2,024,939 in the last quarter. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GDDY. Benchmark lifted their price objective on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company assumed coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective for the company. StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Piper Sandler upped their price target 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. Finally, Morgan Stanley lifted their price target on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.