Marshall Wace LLP Makes New $1.15 Million Investment in GoDaddy Inc. (NYSE:GDDY)

Marshall Wace LLP bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, HoldingsChannel reports. The fund bought 5,800 shares of the technology company’s stock, valued at approximately $1,145,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. NewEdge Advisors LLC grew its stake in shares of GoDaddy by 5.6% in the fourth quarter. NewEdge Advisors LLC now owns 4,179 shares of the technology company’s stock worth $825,000 after purchasing an additional 223 shares during the last quarter. United Capital Financial Advisors LLC bought a new stake in shares of GoDaddy in the fourth quarter worth $245,000. Jump Financial LLC bought a new stake in shares of GoDaddy in the fourth quarter worth $238,000. Canada Post Corp Registered Pension Plan bought a new stake in shares of GoDaddy in the fourth quarter worth $539,000. Finally, Promethos Capital LLC bought a new stake in shares of GoDaddy in the fourth quarter worth $3,329,000. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Barclays boosted their target price on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. JPMorgan Chase & Co. boosted their target price 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 initiated coverage on shares of GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price on the stock. Finally, Benchmark restated a “buy” rating on shares of GoDaddy in a report on Monday. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $209.60.

GoDaddy Trading Up 1.8 %

NYSE:GDDY opened at $188.33 on Wednesday. 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 firm has a 50-day moving average of $175.77 and a 200-day moving average of $186.89. The company has a market cap of $26.62 billion, a PE ratio of 29.20 and a beta of 1.19. GoDaddy Inc. has a one year low of $120.59 and a one year high of $216.00.

GoDaddy (NYSE:GDDY) last posted its earnings results 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 business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. As a group, equities research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the transaction, the chief operating officer now owns 256,949 shares in the company, valued at approximately $44,130,990.75. This represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now directly owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,000 shares of company stock valued at $3,518,150. Corporate insiders own 0.61% of the company’s stock.

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.