Congress Asset Management Co. Invests $111.92 Million in GoDaddy Inc. (NYSE:GDDY)

Congress Asset Management Co. bought a new position in GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 567,070 shares of the technology company’s stock, valued at approximately $111,923,000. Congress Asset Management Co. owned about 0.40% of GoDaddy as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the third quarter worth $27,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy in the fourth quarter worth $43,000. Huntington National Bank lifted its position in GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after buying an additional 230 shares during the period. Finally, Carolina Wealth Advisors LLC purchased a new position in GoDaddy during the third quarter valued at $49,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

GDDY has been the subject of several recent research reports. Robert W. Baird raised their price objective on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Piper Sandler raised their price objective on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday. Jefferies Financial Group raised their price objective on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company started coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price target for the company. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Trading Down 14.1 %

GoDaddy stock opened at $182.58 on Friday. The business has a 50-day simple moving average of $204.20 and a two-hundred day simple moving average of $180.06. The company has a market cap of $25.63 billion, a P/E ratio of 14.11 and a beta of 1.15. GoDaddy Inc. has a 52-week low of $108.02 and a 52-week high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. Analysts predict that GoDaddy Inc. will post 4.96 EPS for the current year.

Insider Buying and Selling at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $207.35, for a total transaction of $207,350.00. Following the completion of the transaction, the chief operating officer now directly owns 184,632 shares in the company, valued at approximately $38,283,445.20. The trade was a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Phontip Palitwanon sold 770 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the transaction, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at approximately $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,482 shares of company stock worth $4,709,650 in the last three months. 0.61% of the stock is currently owned by company insiders.

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.