GoDaddy Inc. (NYSE:GDDY) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its position in GoDaddy Inc. (NYSE:GDDY) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,433,654 shares of the technology company’s stock after buying an additional 5,386 shares during the quarter. Arrowstreet Capital Limited Partnership owned 2.45% of GoDaddy worth $677,700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GDDY. Anchor Investment Management LLC acquired a new position in GoDaddy during the third quarter worth about $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy during the 4th quarter worth approximately $43,000. Rakuten Securities Inc. raised its position in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares during the last quarter. Friedenthal Financial purchased a new stake in GoDaddy in the 4th quarter valued at approximately $49,000. Finally, OFI Invest Asset Management acquired a new stake in GoDaddy during the 4th quarter valued at $52,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GDDY. JPMorgan Chase & Co. upped their price objective on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. UBS Group boosted their target price on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Morgan Stanley increased their target price on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Jefferies Financial Group lifted their target price on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, B. Riley upped their price target on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Price Performance

GDDY opened at $178.89 on Friday. GoDaddy Inc. has a twelve month low of $118.39 and a twelve month high of $216.00. The firm has a market cap of $25.29 billion, a price-to-earnings ratio of 27.73 and a beta of 1.25. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The company has a fifty day simple moving average of $189.80 and a 200 day simple moving average of $184.18.

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

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00. Following the transaction, the director now owns 23,121 shares of the company’s stock, valued at $4,601,310.21. This trade represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock worth $3,816,029 in the last three months. 0.61% of the stock is owned by insiders.

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.