Diversify Advisory Services LLC Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Diversify Advisory Services LLC bought a new position in GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 1,404 shares of the technology company’s stock, valued at approximately $271,000.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in GoDaddy during the third quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy in the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC bought a new position in shares of GoDaddy during the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy during the 4th quarter valued at $43,000. Finally, Friedenthal Financial bought a new stake in GoDaddy in the fourth quarter worth $49,000. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the transaction, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the 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 sale, the chief operating officer now owns 184,632 shares of the company’s stock, valued at approximately $38,283,445.20. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,483 shares of company stock worth $4,759,553. 0.61% of the stock is owned by corporate insiders.

GoDaddy Price Performance

NYSE GDDY opened at $204.18 on Thursday. The company has a market cap of $28.67 billion, a PE ratio of 15.78 and a beta of 1.15. GoDaddy Inc. has a 52-week low of $106.42 and a 52-week high of $211.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50 day moving average price is $199.53 and its 200-day moving average price is $172.22.

GoDaddy (NYSE:GDDY) last announced 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. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.89 EPS. Sell-side analysts forecast that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several recent analyst reports. Jefferies Financial Group increased their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Robert W. Baird upped their target price on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. raised their price target on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Barclays increased their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.07.

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.