Dynamic Technology Lab Private Ltd Invests $1.09 Million in GoDaddy Inc. (NYSE:GDDY)

Dynamic Technology Lab Private Ltd acquired a new position in GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, Holdings Channel.com reports. The fund acquired 5,530 shares of the technology company’s stock, valued at approximately $1,091,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in GoDaddy by 2.2% in the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after acquiring an additional 147,105 shares in the last quarter. Geode Capital Management LLC grew its position in GoDaddy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock worth $692,245,000 after purchasing an additional 90,810 shares during the last quarter. WCM Investment Management LLC increased its stake in GoDaddy by 7,083.4% during the 4th 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 in the last quarter. Norges Bank purchased a new position in shares of GoDaddy in the fourth quarter worth $356,038,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of GoDaddy by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 949,691 shares of the technology company’s stock worth $187,441,000 after buying an additional 26,341 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GDDY has been the subject of a number of research analyst reports. Raymond James raised their target price on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Citigroup lifted their target price on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Morgan Stanley increased 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. JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, UBS Group increased their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Stock Performance

Shares of GDDY stock opened at $164.34 on Friday. 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 12-month low of $119.76 and a 12-month high of $216.00. The business’s 50 day moving average is $186.96 and its two-hundred day moving average is $185.04. The company has a market capitalization of $23.23 billion, a P/E ratio of 25.48 and a beta of 1.25.

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

Insider Transactions at GoDaddy

In related news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $89,925.00. Following the sale, the director now directly owns 21,621 shares in the company, valued at approximately $3,888,536.85. The trade was a 2.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $539,550.00. Following the completion of the transaction, the chief executive officer now owns 443,947 shares in the company, valued at approximately $79,843,867.95. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock valued at $3,643,589 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.