OVERSEA CHINESE BANKING Corp Ltd Takes $556,000 Position in GoDaddy Inc. (NYSE:GDDY)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,235 shares of the technology company’s stock, valued at approximately $556,000.

Several other institutional investors have also added to or reduced their stakes in the company. Achmea Investment Management B.V. acquired a new stake in shares of GoDaddy during the first quarter worth $31,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after buying an additional 205 shares during the period. Fifth Third Bancorp acquired a new stake in GoDaddy during the third quarter worth approximately $43,000. Cary Street Partners Investment Advisory LLC acquired a new stake in GoDaddy during the third quarter worth approximately $44,000. Finally, UMB Bank n.a. bought a new position in GoDaddy during the 4th quarter worth $50,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Trading Down 1.0 %

Shares of GDDY stock opened at $120.12 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07. The firm has a market capitalization of $17.11 billion, a P/E ratio of 12.54 and a beta of 1.12. GoDaddy Inc. has a twelve month low of $67.43 and a twelve month high of $127.15. The stock’s fifty day simple moving average is $117.57 and its 200 day simple moving average is $103.47.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.05. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. As a group, sell-side analysts predict that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GDDY shares. Royal Bank of Canada reissued an “outperform” rating and set a $124.00 target price on shares of GoDaddy in a report on Thursday, March 7th. Morgan Stanley raised their target price on shares of GoDaddy from $120.00 to $132.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. Evercore ISI downgraded shares of GoDaddy from an “outperform” rating to an “in-line” rating and upped their price target for the stock from $100.00 to $110.00 in a report on Wednesday, February 14th. Robert W. Baird lifted their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 25th. Finally, Piper Sandler boosted their price objective on shares of GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.18.

Insider Buying and Selling at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $456,440.00. Following the sale, the chief operating officer now owns 208,632 shares of the company’s stock, valued at $23,806,997.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the completion of the transaction, the chief operating officer now directly owns 208,632 shares in the company, valued at $23,806,997.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 8,687 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $114.11, for a total value of $991,273.57. Following the completion of the sale, the chief executive officer now owns 454,031 shares in the company, valued at $51,809,477.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,234 shares of company stock worth $13,534,946. 0.54% of the stock is currently owned by company insiders.

GoDaddy Company 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.