Dimensional Fund Advisors LP Acquires 54,288 Shares of GoDaddy Inc. (NYSE:GDDY)

Dimensional Fund Advisors LP boosted its holdings in GoDaddy Inc. (NYSE:GDDY) by 5.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,025,719 shares of the technology company’s stock after purchasing an additional 54,288 shares during the period. Dimensional Fund Advisors LP’s holdings in GoDaddy were worth $202,465,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Raymond James raised their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Wells Fargo & Company initiated coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target for the company. Barclays increased their price objective on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Citigroup boosted their target price on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $210.73.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 256,949 shares in the company, valued at $44,130,990.75. The trade was 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 available through this link. 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 transaction, the chief executive officer now directly owns 330,153 shares in the company, valued at approximately $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. Insiders sold a total of 19,000 shares of company stock valued at $3,518,150 in the last quarter. 0.61% of the stock is owned by insiders.

GoDaddy Price Performance

Shares of GDDY opened at $169.99 on Wednesday. GoDaddy Inc. has a fifty-two week low of $120.59 and a fifty-two week high of $216.00. The firm’s 50-day simple moving average is $175.43 and its two-hundred day simple moving average is $186.10. The stock has a market cap of $24.03 billion, a PE ratio of 26.36 and a beta of 1.19. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal 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.