Wambolt & Associates LLC Sells 488 Shares of GoDaddy Inc. (NYSE:GDDY)

Wambolt & Associates LLC cut its position in GoDaddy Inc. (NYSE:GDDY) by 22.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,714 shares of the technology company’s stock after selling 488 shares during the period. Wambolt & Associates LLC’s holdings in GoDaddy were worth $338,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GDDY. Proficio Capital Partners LLC acquired a new stake in shares of GoDaddy in the 4th quarter worth $25,554,000. CWA Asset Management Group LLC increased its holdings in shares of GoDaddy by 29.2% during the fourth quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after acquiring an additional 3,631 shares in the last quarter. Dai ichi Life Insurance Company Ltd raised its position in shares of GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after purchasing an additional 17,021 shares during the last quarter. Fiduciary Alliance LLC acquired a new stake in GoDaddy in the 4th quarter worth approximately $1,045,000. Finally, Mount Yale Investment Advisors LLC grew its position in GoDaddy by 205.3% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock worth $1,110,000 after purchasing an additional 3,783 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Up 0.3 %

GDDY stock opened at $184.00 on Wednesday. GoDaddy Inc. has a one year low of $118.39 and a one year high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The firm’s fifty day moving average is $190.91 and its 200 day moving average is $183.77. The firm has a market cap of $26.01 billion, a PE ratio of 28.53 and a beta of 1.25.

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

Insider Activity

In related news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $174.21, for a total value of $174,210.00. Following the transaction, the chief operating officer now directly owns 257,949 shares of the company’s stock, valued at approximately $44,937,295.29. This trade represents a 0.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $1,094,555.00. Following the sale, the chief financial officer now owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This trade represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock worth $3,816,029 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Jefferies Financial Group raised their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. UBS Group lifted their price target on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Wells Fargo & Company assumed coverage on GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, StockNews.com lowered 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

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.