New York Life Investment Management LLC Has $1.84 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

New York Life Investment Management LLC lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,341 shares of the technology company’s stock after selling 221 shares during the period. New York Life Investment Management LLC’s holdings in GoDaddy were worth $1,841,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its holdings in GoDaddy by 140.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after purchasing an additional 205 shares in the last quarter. Fifth Third Bancorp acquired a new stake in GoDaddy during the 3rd quarter worth approximately $43,000. Cary Street Partners Investment Advisory LLC bought a new stake in GoDaddy during the 3rd quarter worth approximately $44,000. UMB Bank n.a. acquired a new position in GoDaddy in the 4th quarter valued at approximately $50,000. Finally, Tobam acquired a new position in shares of GoDaddy during the fourth quarter worth $60,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 624 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was 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 directly owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the sale, 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 is accessible through this link. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $122.60, for a total transaction of $490,400.00. Following the completion of the transaction, the chief operating officer now owns 200,632 shares in the company, valued at $24,597,483.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,234 shares of company stock valued at $14,025,346. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GDDY. Morgan Stanley raised their target price on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday. Royal Bank of Canada increased their target price on shares of GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday. Benchmark reaffirmed a “buy” rating and issued a $150.00 price objective on shares of GoDaddy in a research note on Wednesday, May 1st. Piper Sandler boosted their target price on shares of GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Finally, JPMorgan Chase & Co. lifted their price objective on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $142.73.

GoDaddy Stock Up 3.8 %

Shares of NYSE GDDY opened at $128.34 on Tuesday. The stock has a market capitalization of $18.29 billion, a P/E ratio of 10.66 and a beta of 1.09. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.47. GoDaddy Inc. has a 1 year low of $68.98 and a 1 year high of $128.60. The company has a 50-day moving average price of $120.27 and a 200-day moving average price of $107.24.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.05. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. On average, equities research analysts forecast that GoDaddy Inc. will post 4.93 EPS for the current fiscal 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.