Apollon Wealth Management LLC Boosts Holdings in GoDaddy Inc. (NYSE:GDDY)

Apollon Wealth Management LLC lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 20.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,653 shares of the technology company’s stock after acquiring an additional 446 shares during the period. Apollon Wealth Management LLC’s holdings in GoDaddy were worth $416,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in GoDaddy during the third quarter valued at about $27,000. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy in the 2nd quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy during the 3rd quarter worth about $30,000. ORG Partners LLC purchased a new stake in shares of GoDaddy during the 2nd quarter worth about $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of GoDaddy during the 2nd quarter worth about $36,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

Shares of GDDY opened at $182.92 on Monday. The business’s 50 day moving average is $162.76 and its two-hundred day moving average is $151.21. GoDaddy Inc. has a 52-week low of $91.68 and a 52-week high of $190.21. The firm has a market cap of $25.68 billion, a price-to-earnings ratio of 14.14 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.89 EPS. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now owns 358,773 shares of the company’s stock, valued at $59,882,801.43. This trade represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,844 shares of company stock worth $4,619,397. 0.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on GDDY shares. Barclays boosted their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Royal Bank of Canada boosted their target price on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Robert W. Baird boosted their price target on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $171.38.

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.