Wedbush Securities Inc. Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Wedbush Securities Inc. acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,526 shares of the technology company’s stock, valued at approximately $213,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in GoDaddy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after acquiring an additional 379,228 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the last quarter. Norges Bank purchased a new stake in shares of GoDaddy in the fourth quarter worth about $181,687,000. Goldman Sachs Group Inc. boosted its stake in GoDaddy by 13.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock valued at $96,166,000 after buying an additional 110,076 shares during the last quarter. Finally, Fiera Capital Corp grew its holdings in GoDaddy by 1.6% during the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock valued at $115,725,000 after buying an additional 13,206 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In other GoDaddy news, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at approximately $2,783,599.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $559,160.00. Following the transaction, the chief operating officer now directly owns 192,632 shares in the company, valued at $26,928,027.28. The disclosure for this sale can be found here. Insiders have sold a total of 30,744 shares of company stock valued at $4,664,216 over the last quarter. 0.61% of the stock is owned by corporate insiders.

GoDaddy Stock Down 0.2 %

NYSE:GDDY opened at $152.28 on Monday. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 12.65 and a beta of 1.13. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock has a fifty day simple moving average of $153.13 and a 200-day simple moving average of $137.55.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. Analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on GDDY. Cantor Fitzgerald assumed coverage on GoDaddy in a research report on Thursday, September 5th. They set a “neutral” rating and a $170.00 target price for the company. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Benchmark increased their price target on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a report on Monday, August 26th. Finally, Raymond James boosted their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.08.

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.