Oppenheimer & Co. Inc. Takes $896,000 Position in GoDaddy Inc. (NYSE:GDDY)

Oppenheimer & Co. Inc. acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,542 shares of the technology company’s stock, valued at approximately $896,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in GoDaddy during the 3rd quarter worth about $27,000. Anchor Investment Management LLC purchased a new stake in GoDaddy during the 3rd quarter worth about $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy during the 4th quarter worth about $43,000. Friedenthal Financial purchased a new stake in GoDaddy during the 4th quarter worth about $49,000. Finally, Huntington National Bank increased its position in GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Phontip Palitwanon sold 1,554 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $203.90, for a total transaction of $316,860.60. Following the completion of the transaction, the chief accounting officer now owns 21,505 shares of the company’s stock, valued at $4,384,869.50. This trade represents a 6.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $597,030.00. Following the transaction, the chief executive officer now directly owns 333,153 shares of the company’s stock, valued at $66,300,778.53. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,034 shares of company stock valued at $4,166,030 over the last three months. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on GDDY shares. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. Raymond James raised their price target on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, B. Riley raised their price target on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Seven 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Price Performance

GDDY stock opened at $176.29 on Thursday. GoDaddy Inc. has a 52-week low of $109.16 and a 52-week 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 market capitalization of $24.92 billion, a PE ratio of 27.33 and a beta of 1.15. The stock’s 50 day moving average is $196.74 and its two-hundred day moving average is $182.11.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results 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 firm had revenue of $1.19 billion for 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 predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.