Corient Private Wealth LLC Boosts Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Corient Private Wealth LLC raised its holdings in GoDaddy Inc. (NYSE:GDDY) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,683 shares of the technology company’s stock after purchasing an additional 807 shares during the quarter. Corient Private Wealth LLC’s holdings in GoDaddy were worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of GoDaddy in the fourth quarter valued at approximately $25,554,000. CWA Asset Management Group LLC boosted its stake in shares of GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after acquiring an additional 3,631 shares in the last quarter. Dai ichi Life Insurance Company Ltd grew its holdings in shares of GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after acquiring an additional 17,021 shares during the period. Fiduciary Alliance LLC purchased a new position in GoDaddy in the 4th quarter valued at approximately $1,045,000. Finally, Mount Yale Investment Advisors LLC raised its holdings in GoDaddy by 205.3% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock worth $1,110,000 after purchasing an additional 3,783 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the topic of several research reports. Benchmark upped their target price on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Raymond James increased their price objective on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group lifted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley increased their price target on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Finally, UBS Group raised their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

GoDaddy Price Performance

GDDY opened at $184.00 on Wednesday. GoDaddy Inc. has a 1 year low of $118.39 and a 1 year high of $216.00. The company’s 50 day simple moving average is $190.91 and its 200 day simple moving average is $183.77. The stock has a market capitalization of $26.01 billion, a PE ratio of 28.53 and a beta of 1.25. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data 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). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total value of $200,570.00. Following the completion of the sale, the chief operating officer now owns 183,632 shares of the company’s stock, valued at $36,831,070.24. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $541,980.00. Following the completion of the transaction, the chief executive officer now directly owns 505,649 shares in the company, valued at approximately $91,350,548.34. This represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,480 shares of company stock valued at $3,816,029. Company insiders own 0.61% of the company’s stock.

GoDaddy 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.