GoDaddy Inc. (NYSE:GDDY) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 949,691 shares of the technology company’s stock after acquiring an additional 26,341 shares during the period. Bank of New York Mellon Corp owned about 0.68% of GoDaddy worth $187,441,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GDDY. Ashton Thomas Securities LLC purchased a new position in GoDaddy in the third quarter worth approximately $27,000. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy in the 3rd quarter valued at $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy during the 4th quarter worth $43,000. Huntington National Bank grew its stake in shares of GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in GoDaddy in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY stock opened at $174.70 on Friday. The stock’s 50-day moving average price is $199.58 and its 200 day moving average price is $181.55. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The stock has a market capitalization of $24.53 billion, a PE ratio of 27.08 and a beta of 1.15. GoDaddy Inc. has a 52-week low of $108.38 and a 52-week high of $216.00.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, equities research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group lifted their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley boosted their target price on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Barclays increased their price target on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Robert W. Baird boosted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, B. Riley upped their target price on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Insiders Place Their Bets

In other news, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,059 shares of the company’s stock, valued at approximately $4,534,321.76. This represents a 3.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 22,621 shares of the company’s stock, valued at $4,698,381.70. This represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,482 shares of company stock worth $4,903,930. 0.61% of the stock is owned by insiders.

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.