Summit Creek Advisors LLC Has $768,000 Position in GoDaddy Inc. (NYSE:GDDY)

Summit Creek Advisors LLC lessened its position in GoDaddy Inc. (NYSE:GDDY) by 15.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,890 shares of the technology company’s stock after selling 708 shares during the period. Summit Creek Advisors LLC’s holdings in GoDaddy were worth $768,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GDDY. Anchor Investment Management LLC acquired a new position in GoDaddy in the 3rd quarter worth about $31,000. Versant Capital Management Inc acquired a new position in GoDaddy in the 4th quarter worth about $43,000. Rakuten Securities Inc. increased its holdings in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial acquired a new position in GoDaddy in the 4th quarter worth about $49,000. Finally, OFI Invest Asset Management acquired a new position in GoDaddy in the 4th quarter worth about $52,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler upped their price target on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Barclays upped their price target on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. UBS Group upped their price target on GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Wells Fargo & Company assumed coverage on GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price target on the stock. Finally, Jefferies Financial Group upped their price target on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $99,505.00. Following the completion of the sale, the director now directly owns 23,121 shares of the company’s stock, valued at $4,601,310.21. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the sale, the chief financial officer now directly owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,480 shares of company stock worth $3,816,029. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Down 0.1 %

Shares of GoDaddy stock opened at $180.49 on Monday. GoDaddy Inc. has a one year low of $118.39 and a one year 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’s 50-day moving average is $191.37 and its 200 day moving average is $183.32. The firm has a market cap of $25.51 billion, a price-to-earnings ratio of 27.98 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current 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.