Dakota Wealth Management bought a new position in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,744 shares of the technology company’s stock, valued at approximately $542,000.
A number of other hedge funds also recently bought and sold shares of GDDY. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth about $27,000. ORG Wealth Partners LLC bought a new position in GoDaddy in the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the third quarter worth approximately $31,000. Versant Capital Management Inc bought a new stake in shares of GoDaddy in the fourth quarter valued at approximately $43,000. Finally, Huntington National Bank boosted its position in shares of GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after acquiring an additional 230 shares during the period. 90.28% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on GDDY shares. Robert W. Baird upped their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group upped their price target on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their price objective on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.07.
GoDaddy Stock Performance
NYSE GDDY opened at $207.44 on Friday. GoDaddy Inc. has a 1-year low of $106.42 and a 1-year high of $211.11. The company has a 50 day moving average of $200.75 and a 200-day moving average of $173.32. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a market cap of $29.12 billion, a price-to-earnings ratio of 16.03 and a beta of 1.15.
GoDaddy (NYSE:GDDY – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. On average, equities analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now owns 24,121 shares of the company’s stock, valued at $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the transaction, the chief executive officer now owns 345,956 shares in the company, valued at approximately $58,047,957.24. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,483 shares of company stock worth $4,759,553 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.
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.
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