Farther Finance Advisors LLC Grows Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Farther Finance Advisors LLC increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 1,096.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,434 shares of the technology company's stock after acquiring an additional 3,147 shares during the period. Farther Finance Advisors LLC's holdings in GoDaddy were worth $678,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Anchor Investment Management LLC acquired a new stake in GoDaddy in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc acquired a new stake in GoDaddy in the 4th quarter worth approximately $43,000. Friedenthal Financial acquired a new stake in GoDaddy in the 4th quarter worth approximately $49,000. OFI Invest Asset Management acquired a new stake in GoDaddy in the 4th quarter worth approximately $52,000. Finally, Huntington National Bank boosted its stake in GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company's stock worth $48,000 after purchasing an additional 230 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. B. Riley raised their price target on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. StockNews.com lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Royal Bank of Canada reissued an "outperform" rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Barclays raised their price target on shares of GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Finally, Piper Sandler raised their price target on shares of GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $213.20.

Remove Ads

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares of the company's stock, valued at $16,776,543. This trade represents a 6.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the transaction, the chief operating officer now directly owns 257,949 shares of the company's stock, valued at $44,937,295.29. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock valued at $3,816,029 in the last 90 days. Company insiders own 0.61% of the company's stock.

GoDaddy Trading Up 1.8 %

Shares of GoDaddy stock traded up $3.29 during mid-day trading on Wednesday, hitting $181.54. The stock had a trading volume of 1,000,447 shares, compared to its average volume of 1,333,674. The firm has a 50-day moving average of $192.25 and a two-hundred day moving average of $182.91. The firm has a market cap of $25.66 billion, a P/E ratio of 28.15 and a beta of 1.25. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. GoDaddy Inc. has a 12-month low of $118.14 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.