IFP Advisors Inc Lowers Position in GoDaddy Inc. (NYSE:GDDY)

IFP Advisors Inc decreased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 20.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,983 shares of the technology company’s stock after selling 768 shares during the period. IFP Advisors Inc’s holdings in GoDaddy were worth $590,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GDDY. Ashton Thomas Securities LLC bought a new stake in GoDaddy during the third quarter worth about $27,000. Anchor Investment Management LLC bought a new stake in GoDaddy during the third quarter worth about $31,000. Versant Capital Management Inc bought a new stake in GoDaddy during the fourth quarter worth about $43,000. Huntington National Bank lifted its stake in GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in GoDaddy during the fourth quarter worth about $49,000. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other GoDaddy 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 in the company, valued at approximately $16,776,543. This represents a 6.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now owns 22,621 shares in the company, valued at $4,698,381.70. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,482 shares of company stock worth $4,903,930. Company insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 2.8 %

Shares of NYSE:GDDY opened at $179.77 on Friday. GoDaddy Inc. has a 1 year low of $108.38 and a 1 year high of $216.00. The company has a market cap of $25.24 billion, a PE ratio of 27.87 and a beta of 1.15. 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 stock’s 50-day moving average is $199.02 and its 200 day moving average is $181.51.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (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 business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Raymond James lifted their price target on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Piper Sandler lifted their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Wells Fargo & Company initiated coverage on GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 target price for the company. Jefferies Financial Group boosted their target price on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Company 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.