GoDaddy Inc. (NYSE:GDDY) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 2.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 949,691 shares of the technology company’s stock after acquiring an additional 26,341 shares during the quarter. Bank of New York Mellon Corp’s holdings in GoDaddy were worth $187,441,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. BankPlus Trust Department purchased a new stake in GoDaddy during the 4th quarter worth about $392,000. Rothschild Investment LLC grew its holdings in shares of GoDaddy by 85.8% during the fourth quarter. Rothschild Investment LLC now owns 11,418 shares of the technology company’s stock worth $2,254,000 after buying an additional 5,274 shares in the last quarter. World Equity Group Inc. purchased a new stake in shares of GoDaddy during the fourth quarter worth about $220,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of GoDaddy by 6.5% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,644 shares of the technology company’s stock valued at $13,351,000 after buying an additional 4,100 shares during the last quarter. Finally, Howard Capital Management Inc. purchased a new position in shares of GoDaddy during the fourth quarter valued at approximately $217,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Trading Down 1.3 %

GDDY opened at $174.70 on Friday. The firm’s 50 day moving average is $199.58 and its 200-day moving average is $181.55. GoDaddy Inc. has a 52-week low of $108.38 and a 52-week high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The firm has a market capitalization of $24.53 billion, a P/E ratio of 27.08 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last released its quarterly 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). The firm had revenue of $1.19 billion for 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%. Analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays lifted their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Raymond James upped their target price on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Morgan Stanley increased 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. JPMorgan Chase & Co. lifted their price target on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, B. Riley increased their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $213.20.

Insider Buying and Selling

In related news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $194.28, for a total value of $194,280.00. Following the sale, the chief operating officer now directly owns 182,632 shares of the company’s stock, valued at $35,481,744.96. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the transaction, the chief accounting officer now owns 23,059 shares in the company, valued at $4,534,321.76. This trade represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,482 shares of company stock worth $4,903,930. 0.61% of the stock is currently owned by corporate insiders.

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.