Thoroughbred Financial Services LLC Buys 1,918 Shares of GoDaddy Inc. (NYSE:GDDY)

Thoroughbred Financial Services LLC raised its stake in GoDaddy Inc. (NYSE:GDDY) by 39.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,737 shares of the technology company’s stock after acquiring an additional 1,918 shares during the period. Thoroughbred Financial Services LLC’s holdings in GoDaddy were worth $1,329,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GDDY. Hilltop Holdings Inc. bought a new stake in shares of GoDaddy during the third quarter worth $357,000. Redwood Investment Management LLC bought a new stake in GoDaddy during the 3rd quarter worth about $465,000. Royal London Asset Management Ltd. grew its holdings in GoDaddy by 4.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 58,067 shares of the technology company’s stock worth $9,104,000 after acquiring an additional 2,270 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of GoDaddy by 19.6% in the third quarter. Quantinno Capital Management LP now owns 13,803 shares of the technology company’s stock worth $2,164,000 after acquiring an additional 2,260 shares during the last quarter. Finally, State Street Corp lifted its position in shares of GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after purchasing an additional 147,105 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the transaction, the director now owns 22,621 shares of the company’s stock, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $539,550.00. Following the completion of the sale, the chief executive officer now owns 443,947 shares in the company, valued at $79,843,867.95. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,480 shares of company stock worth $3,643,589. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Trading Down 7.5 %

NYSE:GDDY opened at $164.34 on Friday. The business’s 50-day simple moving average is $186.96 and its 200-day simple moving average is $184.82. GoDaddy Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $216.00. 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 has a market capitalization of $23.23 billion, a PE ratio of 25.48 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share 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 analyst estimates of $1.18 billion. Sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GDDY. Citigroup upped their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. StockNews.com downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Benchmark increased their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Morgan Stanley lifted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

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.