Argent Capital Management LLC Acquires 7,424 Shares of GoDaddy Inc. (NYSE:GDDY)

Argent Capital Management LLC grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 46.0% during the fourth quarter, Holdings Channel reports. The firm owned 23,554 shares of the technology company’s stock after purchasing an additional 7,424 shares during the period. Argent Capital Management LLC’s holdings in GoDaddy were worth $4,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GDDY. Wedge Capital Management L L P NC raised its holdings in shares of GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after purchasing an additional 384,386 shares in the last quarter. Mizuho Securities USA LLC raised its holdings in GoDaddy by 3,227.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after acquiring an additional 350,839 shares during the period. FMR LLC raised its holdings in GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after acquiring an additional 274,014 shares during the period. Dimensional Fund Advisors LP raised its holdings in GoDaddy by 37.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after acquiring an additional 235,934 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in GoDaddy in the 2nd quarter worth $30,785,000. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on GDDY shares. B. Riley lifted their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Morgan Stanley boosted their price objective on shares of GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a report on Monday. Jefferies Financial Group boosted their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.14.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares in the company, valued at approximately $16,776,543. This represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the sale, the chief operating officer now owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,003 shares of company stock valued at $4,462,363 over the last ninety days. Insiders own 0.61% of the company’s stock.

GoDaddy Trading Up 0.8 %

GDDY opened at $199.01 on Thursday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $27.94 billion, a price-to-earnings ratio of 15.38 and a beta of 1.15. The firm has a 50 day simple moving average of $197.87 and a 200 day simple moving average of $170.37. GoDaddy Inc. has a fifty-two week low of $103.64 and a fifty-two week high of $211.11.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, sell-side analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current year.

GoDaddy 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.