Allstate Corp Takes $826,000 Position in GoDaddy Inc. (NYSE:GDDY)

Allstate Corp bought a new position in GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,186 shares of the technology company’s stock, valued at approximately $826,000.

Other large investors have also bought and sold shares of the company. WCM Investment Management LLC raised 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 purchasing an additional 3,356,678 shares during the last quarter. Norges Bank bought a new position in shares of GoDaddy in the fourth quarter valued at about $356,038,000. Congress Asset Management Co. acquired a new position in GoDaddy during the 4th quarter worth about $111,923,000. Amundi grew its holdings in GoDaddy by 84.4% during the 4th quarter. Amundi now owns 931,874 shares of the technology company’s stock worth $183,710,000 after acquiring an additional 426,501 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its position in GoDaddy by 3,836.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock valued at $70,750,000 after acquiring an additional 349,358 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Mark Mccaffrey sold 480 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $201.29, for a total transaction of $96,619.20. Following the sale, the chief financial officer now directly owns 83,254 shares in the company, valued at $16,758,197.66. This trade represents a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $99,505.00. Following the completion of the sale, the director now directly owns 23,121 shares in the company, valued at $4,601,310.21. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock worth $3,816,029 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on GDDY shares. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Raymond James increased their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Morgan Stanley lifted their target price on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research note 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 note on Friday, February 14th. Finally, Citigroup raised their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Trading Up 0.7 %

GDDY opened at $180.20 on Tuesday. GoDaddy Inc. has a twelve month low of $118.39 and a twelve month high of $216.00. The firm has a market cap of $25.47 billion, a PE ratio of 27.94 and a beta of 1.25. 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 firm’s fifty day moving average is $189.38 and its two-hundred day moving average is $184.61.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. 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.