Harvest Fund Management Co. Ltd Acquires 14,240 Shares of GoDaddy Inc. (NYSE:GDDY)

Harvest Fund Management Co. Ltd grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 133.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,930 shares of the technology company’s stock after buying an additional 14,240 shares during the period. Harvest Fund Management Co. Ltd’s holdings in GoDaddy were worth $4,917,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. WCM Investment Management LLC boosted its stake in GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after purchasing an additional 3,356,678 shares in the last quarter. Congress Asset Management Co. bought a new position in GoDaddy in the 4th quarter worth about $111,923,000. Amundi boosted its stake in GoDaddy by 84.4% in the 4th quarter. Amundi now owns 931,874 shares of the technology company’s stock worth $183,710,000 after purchasing an additional 426,501 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in GoDaddy by 3,836.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock worth $70,750,000 after purchasing an additional 349,358 shares in the last quarter. Finally, FMR LLC boosted its stake in GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s 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 $597,030.00. Following the completion of the transaction, the chief executive officer now directly owns 333,153 shares in the company, valued at $66,300,778.53. This represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the completion of the transaction, the chief operating officer now owns 257,949 shares of the company’s stock, valued at $44,937,295.29. The trade was a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock worth $3,816,029 in the last three months. 0.61% of the stock is owned by company insiders.

GoDaddy Trading Down 1.1 %

Shares of NYSE:GDDY opened at $178.18 on Wednesday. The stock has a 50 day moving average of $192.25 and a 200 day moving average of $182.91. The company has a market cap of $25.19 billion, a PE ratio of 27.63 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. GoDaddy Inc. has a 12-month low of $118.14 and a 12-month high of $216.00.

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 analysts’ consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, equities research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GDDY. Citigroup boosted their target price on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted their target price on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Morgan Stanley boosted 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. Piper Sandler boosted their target price on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company assumed coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price for the company. 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.