Thoroughbred Financial Services LLC Has $1.33 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Thoroughbred Financial Services LLC increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 39.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,737 shares of the technology company’s stock after purchasing an additional 1,918 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in GoDaddy were worth $1,329,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the 3rd quarter valued at $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy during the fourth quarter worth $43,000. Rakuten Securities Inc. boosted its position in GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 165 shares during the last quarter. Friedenthal Financial purchased a new position in GoDaddy in the fourth quarter valued at about $49,000. Finally, OFI Invest Asset Management acquired a new position in GoDaddy in the 4th quarter worth about $52,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

GDDY opened at $164.34 on Friday. 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’s 50 day moving average price is $186.96 and its two-hundred day moving average price is $184.82. The firm has a market capitalization of $23.23 billion, a P/E ratio of 25.48 and a beta of 1.25. GoDaddy Inc. has a 12-month low of $119.76 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY) last announced 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). The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. On average, equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the sale, the director now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the transaction, the chief executive officer now owns 330,153 shares of the company’s stock, valued at $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,480 shares of company stock worth $3,643,589. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GDDY has been the subject of several recent research reports. Piper Sandler boosted their price target on GoDaddy from $176.00 to $177.00 and gave the company 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 stock an “overweight” rating in a research report on Friday, February 14th. Raymond James raised their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Citigroup upped their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company started coverage on GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price on the stock. Seven 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $213.20.

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.