BankPlus Trust Department Takes Position in GoDaddy Inc. (NYSE:GDDY)

BankPlus Trust Department bought a new stake in GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,986 shares of the technology company’s stock, valued at approximately $392,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rothschild Investment LLC raised its holdings in shares of GoDaddy by 85.8% in the fourth quarter. Rothschild Investment LLC now owns 11,418 shares of the technology company’s stock valued at $2,254,000 after acquiring an additional 5,274 shares in the last quarter. World Equity Group Inc. purchased a new stake in shares of GoDaddy during the fourth quarter worth about $220,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of GoDaddy by 6.5% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,644 shares of the technology company’s stock worth $13,351,000 after acquiring an additional 4,100 shares during the last quarter. Howard Capital Management Inc. purchased a new stake in GoDaddy in the fourth quarter valued at approximately $217,000. Finally, Navellier & Associates Inc. boosted its position in GoDaddy by 39.6% in the fourth quarter. Navellier & Associates Inc. now owns 5,532 shares of the technology company’s stock valued at $1,092,000 after buying an additional 1,568 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Citigroup upped their price objective on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Jefferies Financial Group upped their target price on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Benchmark increased their price objective on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. B. Riley upped their target price on GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Morgan Stanley increased their price target on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the sale, the chief executive officer now directly owns 342,956 shares in the company, valued at $67,826,408.12. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,482 shares of company stock valued at $4,903,930 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.2 %

GDDY stock opened at $174.13 on Tuesday. 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 52-week low of $108.38 and a 52-week high of $216.00. The company has a 50-day moving average of $200.66 and a two-hundred day moving average of $181.45. The stock has a market capitalization of $24.45 billion, a price-to-earnings ratio of 27.00 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current 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.