GoDaddy Inc. (NYSE:GDDY) Shares Bought by Plato Investment Management Ltd

Plato Investment Management Ltd grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 11.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,209 shares of the technology company’s stock after acquiring an additional 730 shares during the period. Plato Investment Management Ltd’s holdings in GoDaddy were worth $1,428,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy during the 3rd quarter valued at approximately $27,000. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy during the 4th quarter valued at approximately $43,000. Friedenthal Financial acquired a new stake in shares of GoDaddy during the 4th quarter valued at approximately $49,000. Finally, Huntington National Bank raised its position in shares of GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Down 1.1 %

Shares of NYSE GDDY opened at $177.53 on Tuesday. GoDaddy Inc. has a 52-week low of $108.38 and a 52-week high of $216.00. The firm has a fifty day moving average of $197.96 and a 200-day moving average of $182.06. The stock has a market capitalization of $25.09 billion, a PE ratio of 27.52 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 (NYSE:GDDY) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) 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 company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. On average, analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $597,030.00. Following the completion of the sale, the chief executive officer now directly owns 333,153 shares of the company’s stock, valued at approximately $66,300,778.53. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 480 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $201.29, for a total transaction of $96,619.20. Following the sale, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,534 shares of company stock valued at $3,533,720 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the subject of several research reports. Barclays lifted their price objective on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Piper Sandler lifted their price objective on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Citigroup lifted 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. UBS Group lifted their price objective on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Benchmark lifted their price objective on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, GoDaddy 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.