PGGM Investments Purchases 4,774 Shares of GoDaddy Inc. (NYSE:GDDY)

PGGM Investments lifted its stake in GoDaddy Inc. (NYSE:GDDY) by 12.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,890 shares of the technology company’s stock after acquiring an additional 4,774 shares during the quarter. PGGM Investments’ holdings in GoDaddy were worth $4,659,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ingalls & Snyder LLC grew its position in shares of GoDaddy by 0.3% in the fourth quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock valued at $4,451,000 after purchasing an additional 120 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of GoDaddy by 7.6% in the third quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock valued at $144,000 after purchasing an additional 137 shares during the last quarter. Whittier Trust Co. grew its position in shares of GoDaddy by 9.1% in the third quarter. Whittier Trust Co. now owns 1,683 shares of the technology company’s stock valued at $125,000 after purchasing an additional 141 shares during the last quarter. Quent Capital LLC grew its position in shares of GoDaddy by 30.8% in the fourth quarter. Quent Capital LLC now owns 637 shares of the technology company’s stock valued at $68,000 after purchasing an additional 150 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of GoDaddy by 27.4% in the fourth quarter. Fifth Third Bancorp now owns 730 shares of the technology company’s stock valued at $77,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE GDDY opened at $125.01 on Monday. The company has a fifty day simple moving average of $118.76 and a 200 day simple moving average of $105.18. GoDaddy Inc. has a 12-month low of $67.43 and a 12-month high of $127.15. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. The company has a market cap of $17.81 billion, a P/E ratio of 13.05 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating 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 net margin of 32.74% and a negative return on equity of 89.25%. Sell-side analysts predict that GoDaddy Inc. will post 4.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the sale, the chief operating officer now directly owns 208,632 shares in the company, valued at approximately $23,806,997.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other GoDaddy 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 sale, the chief financial officer now owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the completion of the sale, the chief operating officer now directly owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The disclosure for this sale can be found here. Insiders have sold 121,234 shares of company stock valued at $13,534,946 in the last three months. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group boosted their price target on GoDaddy from $110.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. Piper Sandler boosted their price target on GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Barclays boosted their price target on GoDaddy from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley boosted their price target on GoDaddy from $120.00 to $132.00 and gave the company an “equal weight” rating in a research note on Thursday, March 14th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.18.

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.