Meritage Portfolio Management Buys 812 Shares of GoDaddy Inc. (NYSE:GDDY)

Meritage Portfolio Management lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,779 shares of the technology company’s stock after buying an additional 812 shares during the quarter. Meritage Portfolio Management’s holdings in GoDaddy were worth $2,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of GDDY. Ashton Thomas Securities LLC bought a new position in shares of GoDaddy in the 3rd quarter worth about $27,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy in the third quarter worth about $30,000. Anchor Investment Management LLC bought a new position in shares of GoDaddy during the third quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy during the fourth quarter valued at approximately $43,000. Finally, Huntington National Bank boosted its position in shares of GoDaddy by 298.7% in 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 in the last quarter. 90.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GDDY. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. B. Riley lifted their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Finally, Benchmark upped their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $198.07.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now directly owns 22,621 shares in the company, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the sale, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,983 shares of company stock valued at $4,983,133. 0.61% of the stock is owned by company insiders.

GoDaddy Price Performance

NYSE GDDY opened at $209.64 on Thursday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 1-year low of $107.92 and a 1-year high of $216.00. The stock has a market capitalization of $29.43 billion, a price-to-earnings ratio of 16.20 and a beta of 1.15. The business’s fifty day moving average price is $203.64 and its 200-day moving average price is $177.05.

GoDaddy 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.