Hennion & Walsh Asset Management Inc. Increases Stake in GoDaddy Inc. (NYSE:GDDY)

Hennion & Walsh Asset Management Inc. boosted its stake in GoDaddy Inc. (NYSE:GDDY) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,537 shares of the technology company’s stock after purchasing an additional 289 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in GoDaddy were worth $1,685,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wedge Capital Management L L P NC grew its position in shares of GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after buying an additional 384,386 shares during the last quarter. Mizuho Securities USA LLC grew its position in shares of GoDaddy by 3,227.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after buying an additional 350,839 shares during the last quarter. FMR LLC grew its position in shares of GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after buying an additional 274,014 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of GoDaddy by 37.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after buying an additional 235,934 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of GoDaddy during the second quarter valued at approximately $30,785,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the transaction, the chief executive officer now owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,483 shares of company stock valued at $4,759,553. Company insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.0 %

GoDaddy stock opened at $200.89 on Friday. The stock has a market cap of $28.20 billion, a PE 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. GoDaddy Inc. has a one year low of $106.32 and a one year high of $211.11. The stock has a fifty day moving average of $198.80 and a 200 day moving average of $171.19.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GDDY shares. Robert W. Baird lifted their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark lifted their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays lifted their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $194.14.

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.