Nuveen Asset Management LLC Grows Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Nuveen Asset Management LLC lifted its holdings in GoDaddy Inc. (NYSE:GDDY) by 93.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 996,538 shares of the technology company’s stock after acquiring an additional 480,263 shares during the quarter. Nuveen Asset Management LLC’s holdings in GoDaddy were worth $196,687,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Rakuten Securities Inc. boosted 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 buying an additional 165 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of GoDaddy during the 4th quarter worth about $52,000. Summit Securities Group LLC acquired a new stake in shares of GoDaddy during the 4th quarter valued at about $58,000. Physician Wealth Advisors Inc. acquired a new stake in shares of GoDaddy during the 4th quarter valued at about $67,000. Finally, Global Retirement Partners LLC increased its stake in shares of GoDaddy by 31.1% in the 4th quarter. Global Retirement Partners LLC now owns 392 shares of the technology company’s stock valued at $77,000 after purchasing an additional 93 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total value of $171,750.00. Following the transaction, the chief operating officer now owns 256,949 shares in the company, valued at $44,130,990.75. The trade was a 0.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $190.86, for a total value of $95,430.00. Following the sale, the director now owns 21,121 shares of the company’s stock, valued at $4,031,154.06. This represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,500 shares of company stock valued at $10,050,555. Company insiders own 0.61% of the company’s stock.

GoDaddy Price Performance

GDDY stock opened at $189.80 on Friday. The company has a market cap of $27.04 billion, a PE ratio of 29.43 and a beta of 1.13. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The stock has a 50-day moving average price of $178.11 and a two-hundred day moving average price of $188.58. GoDaddy Inc. has a 12-month low of $134.63 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $2.76 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on GDDY. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group dropped their price target on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. raised their price objective on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Raymond James upped their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Barclays decreased their price target on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $214.86.

GoDaddy Company 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.