Sagespring Wealth Partners LLC Purchases New Position in GoDaddy Inc. (NYSE:GDDY)

Sagespring Wealth Partners LLC acquired a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,080 shares of the technology company's stock, valued at approximately $411,000.

A number of other large investors have also recently made changes to their positions in the business. Quent Capital LLC lifted its position in shares of 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. Lake Street Advisors Group LLC raised its stake in GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock worth $283,000 after buying an additional 64 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock worth $3,708,000 after buying an additional 71 shares during the period. Metis Global Partners LLC grew its holdings in shares of GoDaddy by 1.1% during the 4th quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company's stock worth $1,294,000 after acquiring an additional 74 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of GoDaddy by 13.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company's stock worth $146,000 after acquiring an additional 88 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GDDY. UBS Group upped their price target on GoDaddy from $172.00 to $225.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on GoDaddy from $224.00 to $231.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Morgan Stanley reduced their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday. Raymond James upped their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 21st. Finally, B. Riley increased their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Eight 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.73.

Insider Transactions at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the sale, the director now owns 22,621 shares in the company, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated 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 owns 256,949 shares of the company's stock, valued at $44,130,990.75. The trade was a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $3,518,150 in the last ninety days. Insiders own 0.61% of the company's stock.

GoDaddy Price Performance

GDDY stock traded down $0.65 during mid-day trading on Friday, reaching $171.55. 1,166,177 shares of the company's stock were exchanged, compared to its average volume of 1,465,091. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a 12-month low of $119.76 and a 12-month high of $216.00. The stock's 50 day moving average is $177.13 and its 200 day moving average is $185.71. The company has a market cap of $24.25 billion, a price-to-earnings ratio of 26.60 and a beta of 1.19.

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 analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.18 billion. On average, research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

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.