GC Wealth Management RIA LLC Buys New Shares in GoDaddy Inc. (NYSE:GDDY)

GC Wealth Management RIA LLC bought a new stake in GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,409 shares of the technology company’s stock, valued at approximately $278,000.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the third quarter valued at approximately $27,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the third quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy in the fourth quarter valued at approximately $43,000. Huntington National Bank grew its holdings in 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 purchasing an additional 230 shares during the period. Finally, Friedenthal Financial purchased a new stake in GoDaddy in the fourth quarter valued at approximately $49,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GDDY shares. Barclays lifted their price target on shares of GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Benchmark lifted their price target on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group lifted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler lifted their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, Citigroup lifted their price target on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $623,100.00. Following the sale, the chief executive officer now directly owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00. Following the sale, the director now directly owns 23,121 shares in the company, valued at $4,601,310.21. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock worth $3,849,169 in the last ninety days. 0.61% of the stock is owned by insiders.

GoDaddy Trading Down 0.0 %

NYSE GDDY opened at $172.35 on Wednesday. GoDaddy Inc. has a 12 month low of $115.11 and a 12 month high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 26.72 and a beta of 1.25. The company’s fifty day moving average price is $194.46 and its two-hundred day moving average price is $182.52.

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

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.