New Century Financial Group LLC Raises Stock Position in GoDaddy Inc. (NYSE:GDDY)

New Century Financial Group LLC increased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 10.1% in the 1st quarter, HoldingsChannel reports. The fund owned 2,544 shares of the technology company’s stock after acquiring an additional 234 shares during the period. New Century Financial Group LLC’s holdings in GoDaddy were worth $302,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norden Group LLC acquired a new stake in GoDaddy in the first quarter worth about $806,000. Sivia Capital Partners LLC raised its position in shares of GoDaddy by 3.9% in the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after purchasing an additional 113 shares during the last quarter. State of Michigan Retirement System boosted its stake in GoDaddy by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 34,600 shares of the technology company’s stock worth $4,106,000 after purchasing an additional 800 shares in the last quarter. MV Capital Management Inc. grew its position in GoDaddy by 742.2% during the 1st quarter. MV Capital Management Inc. now owns 859 shares of the technology company’s stock worth $102,000 after purchasing an additional 757 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in GoDaddy by 866.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock valued at $1,227,000 after purchasing an additional 9,266 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 0.5 %

Shares of GDDY opened at $143.69 on Friday. The company has a market capitalization of $20.50 billion, a price-to-earnings ratio of 11.93 and a beta of 1.14. GoDaddy Inc. has a 52 week low of $69.18 and a 52 week high of $145.36. The stock’s 50-day moving average price is $136.31 and its 200-day moving average price is $121.19. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. On average, sell-side analysts predict that GoDaddy Inc. will post 4.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GDDY shares. Morgan Stanley lifted their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. UBS Group lifted their price target on GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Benchmark reiterated a “buy” rating and set a $150.00 price target on shares of GoDaddy in a research note on Wednesday, May 1st. Evercore ISI raised their price objective on GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada lifted their target price on GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.92.

Insider Activity at GoDaddy

In related news, Director Leah Sweet sold 1,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $141.59, for a total transaction of $141,590.00. Following the sale, the director now owns 11,317 shares in the company, valued at $1,602,374.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Amanpal Singh Bhutani sold 6,825 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $942,464.25. Following the completion of the transaction, the chief executive officer now directly owns 377,498 shares of the company’s stock, valued at approximately $52,128,698.82. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Leah Sweet sold 1,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $141.59, for a total value of $141,590.00. Following the transaction, the director now owns 11,317 shares in the company, valued at approximately $1,602,374.03. The disclosure for this sale can be found here. Insiders sold a total of 50,071 shares of company stock worth $6,875,606 in the last three months. Company 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.