Paralel Advisors LLC Buys 1,920 Shares of GoDaddy Inc. (NYSE:GDDY)

Paralel Advisors LLC increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 10.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,154 shares of the technology company’s stock after purchasing an additional 1,920 shares during the quarter. GoDaddy comprises about 0.2% of Paralel Advisors LLC’s portfolio, making the stock its 26th biggest position. Paralel Advisors LLC’s holdings in GoDaddy were worth $4,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of GoDaddy by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock valued at $692,245,000 after purchasing an additional 90,810 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of GoDaddy by 7,083.4% during the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the last quarter. Invesco Ltd. grew its stake in shares of GoDaddy by 11.6% during the fourth quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company’s stock valued at $575,122,000 after purchasing an additional 304,033 shares during the last quarter. Norges Bank acquired a new position in GoDaddy in the fourth quarter valued at approximately $356,038,000. Finally, Bank of New York Mellon Corp lifted its holdings in GoDaddy by 2.9% in the fourth quarter. Bank of New York Mellon Corp now owns 949,691 shares of the technology company’s stock valued at $187,441,000 after buying an additional 26,341 shares during the period. 90.28% of the stock is owned by institutional investors.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total value of $200,570.00. Following the completion of the transaction, the chief operating officer now owns 183,632 shares of the company’s stock, valued at $36,831,070.24. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock valued at $3,546,970. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

GDDY has been the topic of several analyst reports. UBS Group increased their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. B. Riley increased their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company initiated coverage on shares of GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective on the stock. Jefferies Financial Group cut their price objective on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating on the stock in a report on Monday. Finally, StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $212.20.

GoDaddy Stock Down 1.3 %

Shares of GDDY stock traded down $2.20 during trading hours on Thursday, hitting $171.92. 86,072 shares of the company were exchanged, compared to its average volume of 1,443,453. The business has a 50 day moving average of $182.49 and a two-hundred day moving average of $185.15. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 52 week low of $119.76 and a 52 week high of $216.00. The company has a market capitalization of $24.30 billion, a PE ratio of 26.65 and a beta of 1.19.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

About GoDaddy

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.