Legacy Wealth Asset Management LLC Takes $411,000 Position in GoDaddy Inc. (NYSE:GDDY)

Legacy Wealth Asset Management LLC acquired a new position in GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,081 shares of the technology company’s stock, valued at approximately $411,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fiera Capital Corp lifted its position in shares of GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after buying an additional 13,206 shares during the last quarter. Choreo LLC bought a new position in shares of GoDaddy in the 2nd quarter valued at approximately $205,000. American Century Companies Inc. lifted its holdings in GoDaddy by 374.3% in the 2nd quarter. American Century Companies Inc. now owns 150,451 shares of the technology company’s stock worth $21,020,000 after purchasing an additional 118,731 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in GoDaddy by 20.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 37,661 shares of the technology company’s stock worth $5,262,000 after purchasing an additional 6,313 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after purchasing an additional 235,934 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GDDY. Morgan Stanley raised their target price on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. B. Riley lifted their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Citigroup lifted their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $194.14.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the transaction, the chief operating officer now directly owns 183,632 shares in the company, valued at approximately $36,831,070.24. This trade represents a 0.54 % 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, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the sale, the chief executive officer now owns 345,956 shares in the company, valued at $58,047,957.24. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,483 shares of company stock worth $4,759,553. Insiders own 0.61% of the company’s stock.

GoDaddy Price Performance

Shares of GDDY stock opened at $200.89 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a market capitalization of $28.20 billion, a price-to-earnings ratio of 15.52 and a beta of 1.15. The firm’s 50 day moving average is $198.80 and its 200-day moving average is $170.99. GoDaddy Inc. has a 1 year low of $106.32 and a 1 year high of $211.11.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 EPS. Sell-side analysts forecast that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

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.