Pitcairn Co. Boosts Stock Position in GoDaddy Inc. (NYSE:GDDY)

Pitcairn Co. boosted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 8.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,911 shares of the technology company’s stock after acquiring an additional 1,222 shares during the quarter. Pitcairn Co.’s holdings in GoDaddy were worth $3,140,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GDDY. Quent Capital LLC grew its stake in shares of GoDaddy by 4.4% in the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after acquiring an additional 53 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in GoDaddy by 4.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after purchasing an additional 64 shares in the last quarter. New York Life Investment Management LLC increased its holdings in GoDaddy by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after purchasing an additional 71 shares during the period. Metis Global Partners LLC raised its position in GoDaddy by 1.1% in the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock valued at $1,294,000 after purchasing an additional 74 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of GoDaddy by 13.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock valued at $146,000 after buying an additional 88 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $201.29, for a total value of $96,619.20. Following the completion of the transaction, the chief financial officer now directly owns 83,254 shares in the company, valued at approximately $16,758,197.66. The trade was a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total transaction of $200,570.00. Following the transaction, the chief operating officer now directly owns 183,632 shares of the company’s stock, valued at approximately $36,831,070.24. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,480 shares of company stock worth $2,024,939. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Trading Down 0.1 %

Shares of GoDaddy stock opened at $180.48 on Thursday. The company’s fifty day moving average is $188.41 and its two-hundred day moving average is $184.78. GoDaddy Inc. has a 1 year low of $119.76 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company has a market capitalization of $25.51 billion, a P/E ratio of 27.98 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 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company 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 forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on GDDY shares. Wells Fargo & Company initiated coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price on the stock. B. Riley lifted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Jefferies Financial Group increased their target price on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup lifted their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Raymond James raised their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target 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.