World Equity Group Inc. Acquires New Shares in GoDaddy Inc. (NYSE:GDDY)

World Equity Group Inc. acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,117 shares of the technology company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GDDY. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in GoDaddy by 6.5% during the 4th 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 period. Howard Capital Management Inc. acquired a new position in GoDaddy during the 4th quarter worth $217,000. Navellier & Associates Inc. boosted its position in GoDaddy by 39.6% during the 4th quarter. Navellier & Associates Inc. now owns 5,532 shares of the technology company’s stock worth $1,092,000 after acquiring an additional 1,568 shares during the period. Handelsbanken Fonder AB boosted its position in GoDaddy by 0.6% during the 4th quarter. Handelsbanken Fonder AB now owns 35,100 shares of the technology company’s stock worth $6,928,000 after acquiring an additional 200 shares during the period. Finally, Private Advisor Group LLC boosted its position in GoDaddy by 6.8% during the 4th quarter. Private Advisor Group LLC now owns 2,335 shares of the technology company’s stock worth $461,000 after acquiring an additional 148 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Up 0.2 %

Shares of GoDaddy stock opened at $174.13 on Tuesday. The stock’s fifty day moving average is $200.66 and its 200-day moving average is $181.45. The firm has a market capitalization of $24.45 billion, a PE ratio of 27.00 and a beta of 1.15. 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 Inc. has a 12-month low of $108.38 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY) last announced its 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $194.28, for a total value of $194,280.00. Following the transaction, the chief operating officer now owns 182,632 shares in the company, valued at $35,481,744.96. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Phontip Palitwanon sold 770 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the completion of the transaction, the chief accounting officer now owns 23,059 shares in the company, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,482 shares of company stock valued at $4,903,930. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

GDDY has been the subject of a number of analyst reports. Barclays boosted their price target on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Citigroup boosted 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. Morgan Stanley boosted their price target on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Raymond James upped their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Benchmark upped their price objective on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

About GoDaddy

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.