UBS Asset Management Americas Inc. raised its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 3.6% during the fourth quarter, HoldingsChannel reports. The fund owned 1,392,940 shares of the technology company’s stock after acquiring an additional 47,854 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in GoDaddy were worth $115,544,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Neo Ivy Capital Management acquired a new position in shares of GoDaddy in the 4th quarter worth approximately $31,000. Steward Partners Investment Advisory LLC raised its position in shares of GoDaddy by 67.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 501 shares of the technology company’s stock valued at $42,000 after acquiring an additional 201 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in GoDaddy by 64.2% in the fourth quarter. First Horizon Advisors Inc. now owns 642 shares of the technology company’s stock worth $52,000 after purchasing an additional 251 shares during the period. Simon Quick Advisors LLC boosted its holdings in GoDaddy by 1,939.5% in the fourth quarter. Simon Quick Advisors LLC now owns 775 shares of the technology company’s stock worth $64,000 after purchasing an additional 737 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in GoDaddy by 465.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 826 shares of the technology company’s stock valued at $69,000 after purchasing an additional 680 shares during the last quarter. 97.22% of the stock is owned by institutional investors.
In other news, insider Nima Kelly sold 3,446 shares of the company’s stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $92.50, for a total transaction of $318,755.00. Following the completion of the sale, the insider now owns 60,746 shares in the company, valued at approximately $5,619,005. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Raymond E. Winborne, Jr. sold 58,297 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $84.53, for a total value of $4,927,845.41. Following the completion of the transaction, the chief financial officer now directly owns 187,643 shares in the company, valued at $15,861,462.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,728 shares of company stock worth $8,196,226. 0.52% of the stock is currently owned by company insiders.
Shares of NYSE:GDDY opened at $82.99 on Thursday. The business has a fifty day simple moving average of $78.06 and a 200 day simple moving average of $79.30. GoDaddy Inc. has a 1 year low of $58.31 and a 1 year high of $93.75. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of -26.77, a P/E/G ratio of 1.97 and a beta of 0.96.
GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 11th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.08. GoDaddy had a positive return on equity of 94.14% and a negative net margin of 15.67%. The business had revenue of $873.90 million during the quarter, compared to analyst estimates of $865.17 million. On average, sell-side analysts anticipate that GoDaddy Inc. will post 1.27 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on GDDY. Evercore ISI began coverage on GoDaddy in a report on Monday. They set an “in-line” rating and a $87.00 price target on the stock. Barclays boosted their price target on GoDaddy from $90.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, February 12th. Oppenheimer lifted their price objective on shares of GoDaddy from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, February 12th. JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $110.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday, February 12th. Finally, Piper Sandler boosted their price target on shares of GoDaddy from $93.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 12th. One analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $97.76.
GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products such as web analytics, SSL certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.
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