Rafferty Asset Management LLC Raises Stock Position in GoDaddy Inc. (NYSE:GDDY)

Rafferty Asset Management LLC grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,600 shares of the technology company’s stock after purchasing an additional 812 shares during the quarter. Rafferty Asset Management LLC’s holdings in GoDaddy were worth $10,974,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $25,554,000. Mount Yale Investment Advisors LLC grew its position in shares of GoDaddy by 205.3% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after purchasing an additional 3,783 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of GoDaddy by 68.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company’s stock valued at $243,000 after purchasing an additional 499 shares during the last quarter. Cottonwood Capital Advisors LLC grew its position in shares of GoDaddy by 98.2% in the fourth quarter. Cottonwood Capital Advisors LLC now owns 3,405 shares of the technology company’s stock valued at $672,000 after purchasing an additional 1,687 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $271,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GDDY has been the topic of several research reports. Morgan Stanley lowered their price target on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. B. Riley raised their target price 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. Raymond James raised their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company initiated coverage on shares of GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price on the stock. Finally, Jefferies Financial Group decreased their target price on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, April 7th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $214.86.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total value of $541,980.00. Following the completion of the transaction, the chief executive officer now directly owns 505,649 shares in the company, valued at approximately $91,350,548.34. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the completion of the transaction, the chief operating officer now owns 257,949 shares of the company’s stock, valued at $44,937,295.29. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,500 shares of company stock valued at $10,050,555 in the last quarter. Company insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY stock opened at $190.27 on Friday. The company’s fifty day simple moving average is $178.47 and its 200-day simple moving average is $188.78. GoDaddy Inc. has a 52 week low of $134.63 and a 52 week high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The company has a market cap of $27.11 billion, a PE ratio of 29.50 and a beta of 1.13.

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

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.