Cookson Peirce & Co. Inc. Buys 1,706 Shares of GoDaddy Inc. (NYSE:GDDY)

Cookson Peirce & Co. Inc. grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 56.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,715 shares of the technology company’s stock after purchasing an additional 1,706 shares during the period. Cookson Peirce & Co. Inc.’s holdings in GoDaddy were worth $931,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDDY. Keybank National Association OH lifted its stake in GoDaddy by 43.6% in the fourth quarter. Keybank National Association OH now owns 10,964 shares of the technology company’s stock valued at $2,164,000 after purchasing an additional 3,329 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in GoDaddy by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 921,633 shares of the technology company’s stock valued at $181,903,000 after acquiring an additional 30,102 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of GoDaddy by 16.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 678 shares of the technology company’s stock valued at $134,000 after buying an additional 98 shares during the last quarter. LGT Fund Management Co Ltd. bought a new position in shares of GoDaddy during the fourth quarter valued at about $2,790,000. Finally, Plato Investment Management Ltd boosted its holdings in shares of GoDaddy by 11.3% during the fourth quarter. Plato Investment Management Ltd now owns 7,209 shares of the technology company’s stock worth $1,428,000 after purchasing an additional 730 shares during the period. 90.28% of the stock is owned by institutional investors.

GoDaddy Price Performance

Shares of GDDY opened at $176.29 on Thursday. The company has a market cap of $24.92 billion, a price-to-earnings ratio of 27.33 and a beta of 1.15. GoDaddy Inc. has a twelve month low of $109.16 and a twelve month high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The company has a 50 day moving average of $196.74 and a two-hundred day moving average of $182.11.

GoDaddy (NYSE:GDDY) last announced its 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). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on GDDY. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Benchmark upped their target price on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. UBS Group increased their price target on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, B. Riley increased their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $541,980.00. Following the transaction, the chief executive officer now directly owns 505,649 shares in the company, valued at approximately $91,350,548.34. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now owns 22,121 shares in the company, valued at $3,996,379.86. The trade was a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,034 shares of company stock valued at $4,166,030 over the last 90 days. Corporate 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.