Park Place Capital Corp Buys 310 Shares of GoDaddy Inc. (NYSE:GDDY)

Park Place Capital Corp grew its position in GoDaddy Inc. (NYSE:GDDY) by 91.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 648 shares of the technology company’s stock after purchasing an additional 310 shares during the quarter. Park Place Capital Corp’s holdings in GoDaddy were worth $128,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wedge Capital Management L L P NC boosted its stake in GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after purchasing an additional 384,386 shares during the period. Mizuho Securities USA LLC boosted its position in shares of GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after acquiring an additional 350,839 shares during the period. FMR LLC grew its stake in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in GoDaddy during the second quarter worth $30,785,000. Finally, Intech Investment Management LLC raised its stake in GoDaddy by 498.7% during the 3rd quarter. Intech Investment Management LLC now owns 253,367 shares of the technology company’s stock valued at $39,723,000 after purchasing an additional 211,051 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the sale, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. This represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the transaction, the chief operating officer now owns 185,632 shares of the company’s stock, valued at $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,483 shares of company stock valued at $4,759,553. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GDDY has been the topic of several research analyst reports. B. Riley raised their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Barclays upped their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group lifted their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Citigroup upped their target price on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.07.

GoDaddy Trading Down 0.7 %

Shares of GoDaddy stock opened at $204.18 on Thursday. The stock has a market cap of $28.67 billion, a P/E ratio of 15.78 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 12-month low of $106.42 and a 12-month high of $211.11. The business’s 50 day moving average is $199.53 and its 200-day moving average is $172.22.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company posted $0.89 earnings per share. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

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.