Steward Partners Investment Advisory LLC Increases Stock Position in GoDaddy Inc. (NYSE:GDDY)

Steward Partners Investment Advisory LLC increased its position in GoDaddy Inc. (NYSE:GDDY) by 16.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 678 shares of the technology company’s stock after purchasing an additional 98 shares during the period. Steward Partners Investment Advisory LLC’s holdings in GoDaddy were worth $134,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Anchor Investment Management LLC purchased a new position in GoDaddy in the 3rd quarter worth about $31,000. Versant Capital Management Inc bought a new stake in GoDaddy in the 4th quarter worth approximately $43,000. Friedenthal Financial bought a new stake in GoDaddy in the 4th quarter worth approximately $49,000. Huntington National Bank raised its stake in 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. Finally, Global Retirement Partners LLC increased its position in GoDaddy by 31.1% during the fourth quarter. Global Retirement Partners LLC now owns 392 shares of the technology company’s stock valued at $77,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

NYSE:GDDY opened at $176.06 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The company has a market capitalization of $24.89 billion, a P/E ratio of 27.30 and a beta of 1.25. GoDaddy Inc. has a 12 month low of $117.33 and a 12 month high of $216.00. The business’s 50-day moving average is $192.98 and its 200 day moving average is $182.72.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. On average, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. UBS Group upped their price target on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. lifted their price objective on GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company assumed coverage on shares of GoDaddy in a report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $213.20.

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00. Following the transaction, the director now owns 23,121 shares of the company’s stock, valued at approximately $4,601,310.21. This represents a 2.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $541,980.00. Following the transaction, the chief executive officer now owns 505,649 shares in the company, valued at approximately $91,350,548.34. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,480 shares of company stock worth $3,641,819. 0.61% of the stock is currently owned by insiders.

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.