O Shaughnessy Asset Management LLC Has $78.56 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

O Shaughnessy Asset Management LLC lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 6.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 398,044 shares of the technology company’s stock after selling 29,336 shares during the period. GoDaddy makes up about 0.7% of O Shaughnessy Asset Management LLC’s holdings, making the stock its 23rd biggest holding. O Shaughnessy Asset Management LLC’s holdings in GoDaddy were worth $78,562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Anchor Investment Management LLC bought a new position in shares of GoDaddy during the third quarter worth $31,000. Versant Capital Management Inc acquired a new stake in GoDaddy during the 4th quarter worth $43,000. Rakuten Securities Inc. lifted its holdings in GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 165 shares in the last quarter. Friedenthal Financial acquired 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 fourth quarter valued at about $52,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $178.89 on Friday. The stock has a market cap of $25.29 billion, a price-to-earnings ratio of 27.73 and a beta of 1.25. GoDaddy Inc. has a twelve month low of $118.39 and a twelve month high of $216.00. The company’s fifty day moving average is $189.80 and its 200 day moving average is $184.18. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on GDDY. Citigroup upped their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Barclays upped their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Morgan Stanley lifted their price target on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. B. Riley upped their price objective on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Benchmark increased their price objective on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $597,030.00. Following the completion of the transaction, the chief executive officer now directly owns 333,153 shares in the company, valued at $66,300,778.53. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $201.29, for a total value of $96,619.20. Following the sale, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,480 shares of company stock worth $3,816,029. Company insiders own 0.61% of the company’s stock.

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.