International Assets Investment Management LLC Purchases Shares of 18,578 GoDaddy Inc. (NYSE:GDDY)

International Assets Investment Management LLC purchased a new stake in GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 18,578 shares of the technology company’s stock, valued at approximately $1,972,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GDDY. Morgan Stanley boosted its position in GoDaddy by 517.4% in the fourth quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock valued at $458,311,000 after buying an additional 5,133,332 shares in the last quarter. Starboard Value LP raised its stake in shares of GoDaddy by 23.9% in the fourth quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock worth $765,637,000 after acquiring an additional 1,973,118 shares during the last quarter. Norges Bank bought a new position in shares of GoDaddy in the fourth quarter worth about $116,303,000. Goldman Sachs Group Inc. raised its stake in shares of GoDaddy by 108.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,396,699 shares of the technology company’s stock worth $116,903,000 after acquiring an additional 727,582 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of GoDaddy by 201.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,068,773 shares of the technology company’s stock worth $83,065,000 after acquiring an additional 713,798 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Mark Mccaffrey sold 624 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the completion of the transaction, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Mark Mccaffrey sold 624 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the completion of the transaction, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Nick Daddario sold 1,823 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $110.54, for a total transaction of $201,514.42. Following the completion of the transaction, the chief accounting officer now owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The disclosure for this sale can be found here. Insiders sold 121,234 shares of company stock worth $13,534,946 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $124.00 target price on shares of GoDaddy in a research note on Thursday, March 7th. Benchmark reaffirmed a “buy” rating and issued a $150.00 target price on shares of GoDaddy in a research note on Thursday, March 7th. Barclays boosted their target price on shares of GoDaddy from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Robert W. Baird boosted their price target on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.18.

GoDaddy Stock Down 1.0 %

Shares of NYSE:GDDY opened at $120.12 on Friday. GoDaddy Inc. has a 52 week low of $67.43 and a 52 week high of $127.15. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $17.11 billion, a PE ratio of 12.54 and a beta of 1.12. The company has a 50 day moving average price of $117.43 and a two-hundred day moving average price of $102.73.

GoDaddy (NYSE:GDDY) last issued its earnings results on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Analysts forecast that GoDaddy Inc. will post 4.76 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.