Advisory Services Network LLC Invests $1.49 Million in GoDaddy Inc. (NYSE:GDDY)

Advisory Services Network LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,526 shares of the technology company's stock, valued at approximately $1,485,000.

Several other institutional investors also recently modified their holdings of the business. Anchor Investment Management LLC purchased a new position in GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy during the fourth quarter worth about $43,000. Rakuten Securities Inc. raised its position in GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after acquiring an additional 165 shares during the period. Friedenthal Financial bought a new position in shares of GoDaddy during the 4th quarter valued at approximately $49,000. Finally, OFI Invest Asset Management purchased a new stake in shares of GoDaddy during the 4th quarter worth approximately $52,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Price Performance

GDDY stock traded down $0.65 during mid-day trading on Friday, hitting $171.55. 1,166,177 shares of the stock were exchanged, compared to its average volume of 1,463,850. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The stock has a market capitalization of $24.25 billion, a price-to-earnings ratio of 26.60 and a beta of 1.19. The business has a fifty day moving average price of $177.83 and a 200 day moving average price of $185.59. GoDaddy Inc. has a 12 month low of $119.76 and a 12 month 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 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on GDDY. JPMorgan Chase & Co. upped their price target on GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Piper Sandler raised their price objective on shares of GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. UBS Group boosted their target price on shares of GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Citigroup raised their price target on GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a report on Friday, January 3rd. Finally, Morgan Stanley decreased their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.73.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $194.28, for a total value of $194,280.00. Following the completion of the sale, the chief operating officer now owns 182,632 shares of the company's stock, valued at approximately $35,481,744.96. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm'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 $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares in the company, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,518,150 over the last three months. Insiders own 0.61% of the company's stock.

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.