New York Life Investment Management LLC Boosts Holdings in GoDaddy Inc. (NYSE:GDDY)

New York Life Investment Management LLC boosted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 0.4% in the fourth quarter, HoldingsChannel reports. The fund owned 18,785 shares of the technology company’s stock after purchasing an additional 71 shares during the quarter. New York Life Investment Management LLC’s holdings in GoDaddy were worth $3,708,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after acquiring an additional 6,424 shares during the last quarter. CWA Asset Management Group LLC lifted its position in GoDaddy by 29.2% during the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after acquiring an additional 3,631 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after acquiring an additional 9,631 shares during the last quarter. Dai ichi Life Insurance Company Ltd lifted its position in GoDaddy by 39.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after acquiring an additional 17,021 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its position in GoDaddy by 205.3% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after acquiring an additional 3,783 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 2.8 %

NYSE:GDDY opened at $179.77 on Friday. The firm has a market capitalization of $25.24 billion, a P/E ratio of 27.87 and a beta of 1.15. GoDaddy Inc. has a 1-year low of $108.38 and a 1-year high of $216.00. The company’s fifty day moving average price is $198.50 and its 200-day moving average price is $181.65. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GDDY. Citigroup increased their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company started coverage on shares of GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price target for the company. 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. Morgan Stanley raised their price target on shares of GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, StockNews.com cut shares of GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $213.20.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 2,678 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $526,601.92. Following the sale, the chief financial officer now owns 89,800 shares in the company, valued at approximately $17,658,272. This trade represents a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $207.35, for a total transaction of $207,350.00. Following the sale, the chief operating officer now owns 184,632 shares in the company, valued at approximately $38,283,445.20. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,482 shares of company stock worth $4,903,930. 0.61% of the stock is owned by company insiders.

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.