MBL Wealth LLC bought a new position in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 9,022 shares of the technology company’s stock, valued at approximately $862,000.
Other hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its holdings in GoDaddy by 3.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,318 shares of the technology company’s stock valued at $357,000 after purchasing an additional 147 shares during the last quarter. International Assets Investment Management LLC boosted its position in GoDaddy by 93.8% in the first quarter. International Assets Investment Management LLC now owns 372 shares of the technology company’s stock valued at $30,000 after buying an additional 180 shares in the last quarter. Mather Group LLC. grew its stake in GoDaddy by 34.7% during the third quarter. Mather Group LLC. now owns 811 shares of the technology company’s stock worth $77,000 after buying an additional 209 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in GoDaddy by 24.8% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,072 shares of the technology company’s stock worth $91,000 after buying an additional 213 shares during the last quarter. Finally, Elevation Wealth Partners LLC grew its stake in GoDaddy by 109.3% during the third quarter. Elevation Wealth Partners LLC now owns 473 shares of the technology company’s stock worth $45,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Royal Bank Of Canada lowered shares of GoDaddy from an “outperform” rating to a “sector perform” rating and set a $95.00 price objective for the company. in a report on Sunday, October 11th. Cantor Fitzgerald boosted their target price on GoDaddy from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, October 19th. Raymond James Financial downgraded GoDaddy from a “strong-buy” rating to an “outperform” rating and set a $100.00 target price on the stock. in a report on Friday, July 31st. Wells Fargo & Company lowered GoDaddy from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $80.00 to $76.00 in a research report on Wednesday, August 26th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $95.00 price target (up from $93.00) on shares of GoDaddy in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $111.00.
Get Our Latest Stock Report on GDDY
Insider Transactions at GoDaddy
In other GoDaddy news, CFO Mark McCaffrey sold 5,873 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $100.91, for a total value of $592,644.43. Following the completion of the transaction, the chief financial officer directly owned 99,855 shares of the company’s stock, valued at approximately $10,076,368.05. The trade was a 5.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Amanpal Bhutani sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $97.50, for a total transaction of $438,750.00. Following the transaction, the chief executive officer owned 500,053 shares in the company, valued at $48,755,167.50. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 31,358 shares of company stock worth $3,031,831. Corporate insiders own 0.93% of the company’s stock.
GoDaddy Stock Performance
GoDaddy stock opened at $112.64 on Friday. The stock has a 50-day simple moving average of $100.20 and a 200 day simple moving average of $91.63. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 561.10. GoDaddy Inc. has a 12-month low of $71.59 and a 12-month high of $137.93. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of 16.71 and a beta of 0.94.
GoDaddy (NYSE:GDDY – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.14. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company earned $1.41 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, research analysts anticipate that GoDaddy Inc. will post 7.24 earnings per share for the current fiscal year.
GoDaddy Profile
GoDaddy Inc (NYSE: GDDY) is a global technology company that provides online tools and services to entrepreneurs, small businesses and individuals. Its platform helps customers establish, manage and grow an online presence, with offerings that include domain-name registration, website hosting, website and online-store builders, professional email and digital marketing tools.
The company also provides services designed to support commerce and customer engagement, including e-commerce functionality, online appointment scheduling, payments and other business-management capabilities.
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