Atria Wealth Solutions Inc. Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Atria Wealth Solutions Inc. purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, Holdings Channel reports. The fund purchased 1,115 shares of the technology company’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC lifted its stake in GoDaddy by 4.4% in the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after acquiring an additional 53 shares during the period. Prime Capital Investment Advisors LLC raised its holdings in shares of GoDaddy by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after purchasing an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of GoDaddy by 13.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock worth $146,000 after purchasing an additional 88 shares during the period. Avestar Capital LLC boosted its stake in shares of GoDaddy by 4.5% during the fourth quarter. Avestar Capital LLC now owns 2,206 shares of the technology company’s stock valued at $435,000 after purchasing an additional 96 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in GoDaddy by 11.3% during the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after buying an additional 99 shares during the period. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Benchmark upped their price objective on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Raymond James raised their price objective on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Barclays boosted their target price on shares of GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Trading Up 2.8 %

Shares of GoDaddy stock opened at $179.77 on Friday. The firm’s 50 day simple moving average is $198.50 and its two-hundred day simple moving average is $181.65. The firm has a market capitalization of $25.24 billion, a price-to-earnings ratio of 27.87 and a beta of 1.15. GoDaddy Inc. has a 12-month low of $108.38 and a 12-month high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity

In related news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now directly owns 84,300 shares in the company, valued at $16,776,543. The trade was a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 770 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total value of $151,412.80. Following the sale, the chief accounting officer now directly owns 23,059 shares in the company, valued at $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,482 shares of company stock valued at $4,903,930. Company insiders own 0.61% of the company’s stock.

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.