Hel Ved Capital Management Ltd Takes Position in GoDaddy Inc. (NYSE:GDDY)

Hel Ved Capital Management Ltd purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 10,500 shares of the technology company’s stock, valued at approximately $2,072,000.

A number of other institutional investors have also modified their holdings of the business. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the third quarter worth $31,000. Versant Capital Management Inc acquired a new position in GoDaddy during the fourth quarter worth $43,000. Rakuten Securities Inc. raised its position 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 acquiring an additional 165 shares in the last quarter. Friedenthal Financial acquired a new position in shares of GoDaddy during the 4th quarter worth $49,000. Finally, OFI Invest Asset Management acquired a new position in GoDaddy during the fourth quarter worth about $52,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on GDDY. Raymond James lifted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Citigroup boosted their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. B. Riley raised their target price on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Benchmark upped their price target on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

Insider Buying and Selling

In other news, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $201.29, for a total transaction of $96,619.20. Following the completion of the sale, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at $16,758,197.66. The trade was a 0.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the 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 completion of the transaction, the chief operating officer now directly owns 257,949 shares in the company, valued at $44,937,295.29. This trade represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,480 shares of company stock valued at $3,643,589. Insiders own 0.61% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $164.34 on Friday. The company has a market cap of $23.23 billion, a P/E ratio of 25.48 and a beta of 1.25. The business has a fifty day simple moving average of $186.96 and a 200-day simple moving average of $184.82. GoDaddy Inc. has a 52 week low of $119.76 and a 52 week high of $216.00. 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 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Equities research analysts forecast 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.