GoDaddy Inc. (NYSE:GDDY) is Wedge Capital Management L L P NC’s 6th Largest Position

Wedge Capital Management L L P NC decreased its position in GoDaddy Inc. (NYSE:GDDY) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 345,591 shares of the technology company’s stock after selling 55,658 shares during the quarter. GoDaddy makes up 1.2% of Wedge Capital Management L L P NC’s portfolio, making the stock its 6th biggest holding. Wedge Capital Management L L P NC’s holdings in GoDaddy were worth $68,209,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the third quarter worth about $27,000. ORG Wealth Partners LLC bought a new position in shares of GoDaddy during the 3rd quarter valued at approximately $30,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc bought a new stake in GoDaddy during the 4th quarter worth approximately $43,000. Finally, Huntington National Bank lifted its holdings in GoDaddy by 298.7% during 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 in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GDDY shares. Barclays increased their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. B. Riley lifted their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Piper Sandler upped their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Five 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’s stock. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $194.14.

Insider Buying and Selling

In other news, CFO Mark Mccaffrey sold 5,500 shares of the company’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 transaction of $1,094,555.00. Following the transaction, the chief financial officer now owns 84,300 shares of the company’s stock, valued at approximately $16,776,543. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 24,483 shares of company stock valued at $4,759,553 in the last ninety days. 0.61% of the stock is owned by company insiders.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $200.89 on Friday. The stock has a market cap of $28.20 billion, a price-to-earnings ratio of 15.52 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50 day moving average price of $198.80 and a 200-day moving average price of $170.99. GoDaddy Inc. has a one year low of $106.32 and a one year high of $211.11.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm earned $0.89 earnings per share. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts expect that GoDaddy Inc. will post 4.96 EPS for the current 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.