Moran Wealth Management LLC Invests $14.80 Million in GoDaddy Inc. (NYSE:GDDY)

Moran Wealth Management LLC bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 74,990 shares of the technology company’s stock, valued at approximately $14,801,000. Moran Wealth Management LLC owned about 0.05% of GoDaddy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GDDY. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in GoDaddy by 6.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,724 shares of the technology company’s stock worth $5,669,000 after purchasing an additional 1,673 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of GoDaddy in the 4th quarter valued at $52,000. Personal CFO Solutions LLC acquired a new position in shares of GoDaddy in the 4th quarter valued at $224,000. Amundi boosted its holdings in GoDaddy by 84.4% during the fourth quarter. Amundi now owns 931,874 shares of the technology company’s stock worth $183,710,000 after buying an additional 426,501 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in GoDaddy by 16.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,295 shares of the technology company’s stock valued at $1,440,000 after buying an additional 1,010 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Benchmark upped their price target on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Morgan Stanley raised their price objective on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, B. Riley lifted their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Seven 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 company. Based on data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average price target of $213.20.

Insider Buying and Selling

In related news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 184,632 shares of the company’s stock, valued at approximately $38,283,445.20. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now directly owns 84,300 shares in the company, valued at $16,776,543. The trade was a 6.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,480 shares of company stock worth $3,849,169. Insiders own 0.61% of the company’s stock.

GoDaddy Trading Up 2.0 %

Shares of GoDaddy stock opened at $175.52 on Monday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $195.50 and its 200-day simple moving average is $182.38. The stock has a market cap of $24.81 billion, a P/E ratio of 27.21 and a beta of 1.25. GoDaddy Inc. has a 1-year low of $113.01 and a 1-year high of $216.00.

GoDaddy (NYSE:GDDY) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $1.18 billion. Analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

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.