Edgestream Partners L.P. Purchases New Holdings in GoDaddy Inc. (NYSE:GDDY)

Edgestream Partners L.P. acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,424 shares of the technology company’s stock, valued at approximately $3,636,000.

Several other institutional investors and hedge funds have also bought and sold shares of GDDY. WCM Investment Management LLC grew its holdings in GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the period. Congress Asset Management Co. bought a new position in GoDaddy during the fourth quarter valued at $111,923,000. Mizuho Securities USA LLC grew its holdings in GoDaddy by 3,227.3% during the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after purchasing an additional 350,839 shares during the period. AustralianSuper Pty Ltd grew its holdings in GoDaddy by 3,836.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock valued at $70,750,000 after purchasing an additional 349,358 shares during the period. Finally, FMR LLC grew its holdings in GoDaddy by 19.8% during the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares during the period. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Up 2.0 %

GDDY opened at $175.52 on Friday. The company has a market cap of $24.81 billion, a P/E ratio of 27.21 and a beta of 1.25. The business’s 50-day moving average price is $195.50 and its 200-day moving average price is $182.26. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 12 month low of $113.01 and a 12 month high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, equities analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GDDY shares. StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Piper Sandler raised their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Barclays raised their price target on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Finally, Benchmark raised 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. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average target price of $213.20.

Insider Transactions at GoDaddy

In related news, CAO Phontip Palitwanon sold 1,554 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $203.90, for a total value of $316,860.60. Following the sale, the chief accounting officer now directly owns 21,505 shares of the company’s stock, valued at $4,384,869.50. This trade represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $99,505.00. Following the completion of the sale, the director now directly owns 23,121 shares in the company, valued at $4,601,310.21. The trade was a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,034 shares of company stock worth $4,166,030. Company insiders own 0.61% of the company’s stock.

GoDaddy Company 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.