Sanctuary Advisors LLC Takes $1.10 Million Position in GoDaddy Inc. (NYSE:GDDY)

Sanctuary Advisors LLC acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,849 shares of the technology company’s stock, valued at approximately $1,097,000.

Other large investors also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new position in shares of GoDaddy during the 2nd quarter valued at about $28,000. ORG Partners LLC acquired a new position in shares of GoDaddy in the second quarter worth about $32,000. V Square Quantitative Management LLC acquired a new position in shares of GoDaddy in the fourth quarter worth about $28,000. International Assets Investment Management LLC acquired a new position in shares of GoDaddy in the second quarter worth about $36,000. Finally, GAMMA Investing LLC boosted its holdings in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, CAO Nick Daddario sold 684 shares of the firm’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 transaction of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Nick Daddario sold 684 shares of GoDaddy 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 transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at $2,783,599.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $439,440.00. Following the completion of the transaction, the chief executive officer now directly owns 362,398 shares in the company, valued at approximately $53,084,059.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,744 shares of company stock valued at $4,950,771. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on GDDY shares. Barclays raised their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. B. Riley raised their target price on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Benchmark raised their target price on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Raymond James raised their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $172.00 target price (up from $160.00) on shares of GoDaddy in a report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $166.54.

GoDaddy Price Performance

Shares of GDDY opened at $163.13 on Friday. The firm has a market cap of $23.00 billion, a PE ratio of 13.04 and a beta of 1.12. The firm’s 50 day moving average price is $157.82 and its 200 day moving average price is $142.66. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. As a group, research analysts expect that GoDaddy Inc. will post 5.07 EPS for the current fiscal year.

About GoDaddy

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.