Navellier & Associates Inc. Raises Stock Position in GoDaddy Inc. (NYSE:GDDY)

Navellier & Associates Inc. lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 39.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,532 shares of the technology company’s stock after acquiring an additional 1,568 shares during the quarter. Navellier & Associates Inc.’s holdings in GoDaddy were worth $1,092,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after acquiring an additional 6,424 shares during the period. Highland Capital Management LLC purchased a new position in GoDaddy during the third quarter valued at approximately $1,132,000. CWA Asset Management Group LLC increased its holdings in GoDaddy by 29.2% during the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after buying an additional 3,631 shares during the period. Crossmark Global Holdings Inc. increased its holdings in GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after buying an additional 9,631 shares during the period. Finally, Dai ichi Life Insurance Company Ltd increased its holdings in GoDaddy by 39.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after buying an additional 17,021 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GDDY. JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Wells Fargo & Company began coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective on the stock. UBS Group lifted their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Robert W. Baird lifted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Seven research 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.20.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 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 $1,094,555.00. Following the completion of the transaction, the chief financial officer now directly owns 84,300 shares in the company, valued at $16,776,543. The trade was a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 770 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the transaction, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,482 shares of company stock worth $4,903,930. Company insiders own 0.61% of the company’s stock.

GoDaddy Trading Down 1.6 %

NYSE:GDDY opened at $173.82 on Friday. GoDaddy Inc. has a 12 month low of $108.38 and a 12 month high of $216.00. The firm has a fifty day simple moving average of $201.36 and a 200-day simple moving average of $181.13. 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 capitalization of $24.40 billion, a P/E ratio of 26.95 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share 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.