GeoWealth Management LLC Invests $343,000 in GoDaddy Inc. (NYSE:GDDY)

GeoWealth Management LLC purchased a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,738 shares of the technology company's stock, valued at approximately $343,000.

Other hedge funds have also modified their holdings of the company. Quent Capital LLC boosted its stake in GoDaddy by 4.4% in the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock worth $248,000 after purchasing an additional 53 shares during the period. Advisors Capital Management LLC boosted its holdings in GoDaddy by 0.9% in the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after purchasing an additional 55 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of GoDaddy by 4.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock valued at $283,000 after acquiring an additional 64 shares during the last quarter. New York Life Investment Management LLC grew its holdings in GoDaddy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock valued at $3,708,000 after purchasing an additional 71 shares during the last quarter. Finally, Metis Global Partners LLC grew its stake in GoDaddy by 1.1% in the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company's stock valued at $1,294,000 after buying an additional 74 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Up 1.7 %

Shares of GDDY stock traded up $3.02 during trading hours on Friday, hitting $183.44. 1,223,605 shares of the company were exchanged, compared to its average volume of 1,470,282. The business has a 50 day moving average of $175.31 and a two-hundred day moving average of $186.22. The company has a market capitalization of $25.93 billion, a PE ratio of 28.44 and a beta of 1.19. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 52 week low of $120.59 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on GDDY. Citigroup dropped their target price on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday. B. Riley increased their price objective on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. StockNews.com lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Monday, February 17th. UBS Group lifted their price target on GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Finally, Benchmark boosted their price objective on shares of GoDaddy from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $209.60.

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the transaction, the director now owns 22,621 shares of the company's stock, valued at approximately $4,698,381.70. This represents a 2.16 % 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 this link. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total value of $171,750.00. Following the completion of the transaction, the chief operating officer now directly owns 256,949 shares in the company, valued at approximately $44,130,990.75. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,518,150 in the last 90 days. 0.61% of the stock is currently owned by insiders.

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.