GoDaddy Inc. (NYSE:GDDY) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,614 shares of the technology company’s stock after purchasing an additional 388 shares during the quarter. ProShare Advisors LLC’s holdings in GoDaddy were worth $7,029,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in GoDaddy during the 4th quarter worth $25,554,000. Mount Yale Investment Advisors LLC grew its position in shares of GoDaddy by 205.3% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock worth $1,110,000 after acquiring an additional 3,783 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of GoDaddy by 68.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company’s stock worth $243,000 after acquiring an additional 499 shares during the period. Cottonwood Capital Advisors LLC lifted its position in GoDaddy by 98.2% in the 4th quarter. Cottonwood Capital Advisors LLC now owns 3,405 shares of the technology company’s stock valued at $672,000 after purchasing an additional 1,687 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new stake in GoDaddy in the 4th quarter valued at about $271,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. UBS Group increased their price objective on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Benchmark reaffirmed a “buy” rating on shares of GoDaddy in a research note on Monday, April 28th. Wells Fargo & Company began coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target for the company. Finally, Jefferies Financial Group lowered their price target on GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.86.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $90,330.00. Following the completion of the sale, the director now owns 22,121 shares in the company, valued at approximately $3,996,379.86. This represents a 2.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $541,980.00. Following the completion of the transaction, the chief executive officer now directly owns 505,649 shares of the company’s stock, valued at $91,350,548.34. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,500 shares of company stock valued at $10,050,555 over the last three months. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

NYSE:GDDY opened at $190.27 on Monday. The company has a 50-day moving average of $178.47 and a 200-day moving average of $189.13. The firm has a market cap of $27.11 billion, a price-to-earnings ratio of 29.50 and a beta of 1.13. 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 twelve month low of $135.03 and a twelve month high of $216.00.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.76 earnings per share. Analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.