Kingsview Wealth Management LLC Invests $233,000 in GoDaddy Inc. (NYSE:GDDY)

Kingsview Wealth Management LLC acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,487 shares of the technology company’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Cerity Partners LLC grew its position in shares of GoDaddy by 18.9% during the 3rd quarter. Cerity Partners LLC now owns 17,672 shares of the technology company’s stock valued at $2,771,000 after purchasing an additional 2,803 shares in the last quarter. Citigroup Inc. grew its position in GoDaddy by 26.5% during the third quarter. Citigroup Inc. now owns 195,228 shares of the technology company’s stock worth $30,608,000 after buying an additional 40,874 shares in the last quarter. Pacer Advisors Inc. grew its position in GoDaddy by 24.1% during the third quarter. Pacer Advisors Inc. now owns 53,298 shares of the technology company’s stock worth $8,356,000 after buying an additional 10,345 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in GoDaddy by 5.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 39,785 shares of the technology company’s stock worth $6,237,000 after acquiring an additional 2,124 shares during the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of GoDaddy in the 3rd quarter valued at about $1,097,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Down 0.1 %

NYSE:GDDY opened at $197.68 on Friday. The firm has a market capitalization of $27.75 billion, a P/E ratio of 15.28 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. The company has a fifty day moving average of $170.85 and a 200 day moving average of $155.58. GoDaddy Inc. has a 52 week low of $98.13 and a 52 week high of $202.56.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates 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 prior year, the business posted $0.89 earnings per share. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total value of $855,800.00. Following the completion of the sale, the chief financial officer now directly owns 93,102 shares in the company, valued at $14,486,671.20. This trade represents a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Brian Sharples sold 500 shares of the company’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 transaction, the director now owns 24,121 shares in the company, valued at $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,345 shares of company stock worth $3,897,255. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Benchmark raised their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Raymond James increased their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Piper Sandler lifted 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. Finally, Robert W. Baird increased their price objective on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

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.