denkapparat Operations GmbH Takes Position in GoDaddy Inc. (NYSE:GDDY)

denkapparat Operations GmbH purchased a new position in GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 2,278 shares of the technology company’s stock, valued at approximately $450,000.

A number of other large investors also recently bought and sold shares of the business. Pictet Asset Management Holding SA lifted its position in GoDaddy by 6.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 116,698 shares of the technology company’s stock valued at $23,033,000 after acquiring an additional 7,081 shares in the last quarter. Boussard & Gavaudan Investment Management LLP purchased a new stake in shares of GoDaddy during the fourth quarter valued at $1,001,000. New Age Alpha Advisors LLC bought a new stake in GoDaddy in the 4th quarter worth about $2,010,000. Norges Bank purchased a new position in GoDaddy in the 4th quarter worth about $356,038,000. Finally, NEOS Investment Management LLC lifted its stake in GoDaddy by 21.6% during the 4th quarter. NEOS Investment Management LLC now owns 6,946 shares of the technology company’s stock valued at $1,371,000 after acquiring an additional 1,232 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GoDaddy stock opened at $183.02 on Friday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock has a market cap of $25.87 billion, a price-to-earnings ratio of 28.38 and a beta of 1.25. The firm has a 50-day moving average of $190.24 and a two-hundred day moving average of $183.76. GoDaddy Inc. has a 1 year low of $118.39 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.18 billion. On average, research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $99,505.00. Following the sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $597,030.00. Following the sale, the chief executive officer now directly owns 333,153 shares in the company, valued at $66,300,778.53. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,480 shares of company stock valued at $3,816,029 over the last ninety days. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Barclays raised their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. 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 report on Wednesday, December 4th. Piper Sandler boosted their target price on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, JPMorgan Chase & Co. raised their price target on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

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.