GoDaddy Inc. (NYSE:GDDY) Shares Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC lifted its position in GoDaddy Inc. (NYSE:GDDY) by 29.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 16,071 shares of the technology company’s stock after acquiring an additional 3,631 shares during the period. CWA Asset Management Group LLC’s holdings in GoDaddy were worth $3,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in GoDaddy during the third quarter worth $27,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy during the third quarter worth $30,000. Anchor Investment Management LLC bought a new position in shares of GoDaddy in the 3rd quarter worth about $31,000. Versant Capital Management Inc acquired a new position in shares of GoDaddy in the 4th quarter valued at about $43,000. Finally, Huntington National Bank grew its position in shares of GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after buying an additional 230 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays raised their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Citigroup boosted their price objective on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. B. Riley raised 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 shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.71.

GoDaddy Trading Down 0.7 %

GoDaddy stock opened at $199.05 on Tuesday. GoDaddy Inc. has a 12-month low of $100.43 and a 12-month high of $211.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $27.94 billion, a PE ratio of 15.38 and a beta of 1.15. The firm has a 50 day simple moving average of $193.67 and a 200-day simple moving average of $167.80.

GoDaddy (NYSE:GDDY) last issued its quarterly 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 firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $0.89 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $99,505.00. Following the completion of the sale, the director now directly owns 23,121 shares in the company, valued at approximately $4,601,310.21. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the transaction, the chief operating officer now directly owns 184,632 shares in the company, valued at $38,283,445.20. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,003 shares of company stock valued at $4,626,523 over the last three months. Company insiders own 0.61% of the company’s stock.

About GoDaddy

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.