Ethic Inc. Grows Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Ethic Inc. lifted its position in GoDaddy Inc. (NYSE:GDDY) by 75.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,814 shares of the technology company’s stock after buying an additional 14,502 shares during the quarter. Ethic Inc.’s holdings in GoDaddy were worth $6,674,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in GoDaddy by 11.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company’s stock worth $751,778,000 after purchasing an additional 395,160 shares during the period. Geode Capital Management LLC lifted its holdings in GoDaddy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock worth $692,245,000 after buying an additional 90,810 shares in the last quarter. WCM Investment Management LLC boosted its position in GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after buying an additional 3,356,678 shares during the period. Invesco Ltd. boosted its position in GoDaddy by 11.6% in the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company’s stock valued at $575,122,000 after buying an additional 304,033 shares during the period. Finally, Norges Bank acquired a new position in shares of GoDaddy in the fourth quarter worth $356,038,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY stock opened at $182.51 on Friday. The firm has a market cap of $25.80 billion, a price-to-earnings ratio of 28.30 and a beta of 1.13. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a 1 year low of $131.84 and a 1 year high of $216.00. The stock’s 50-day moving average is $177.00 and its two-hundred day moving average is $187.84.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $2.76 EPS. Analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of recent research reports. Wells Fargo & Company began coverage on GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price for the company. B. Riley boosted their price objective on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Citigroup cut their target price on shares of GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Piper Sandler lifted their price target on shares of GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Finally, Barclays dropped their price objective on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $214.86.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the transaction, the chief executive officer now directly owns 505,649 shares of the company’s stock, valued at approximately $91,350,548.34. The trade was a 0.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $194.28, for a total transaction of $194,280.00. Following the transaction, the chief operating officer now owns 182,632 shares of the company’s stock, valued at approximately $35,481,744.96. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,500 shares of company stock valued at $10,244,835. Insiders own 0.61% of the company’s stock.

About GoDaddy

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.