Genesis Private Wealth LLC Invests $282,000 in GoDaddy Inc. (NYSE:GDDY)

Genesis Private Wealth LLC purchased a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,430 shares of the technology company's stock, valued at approximately $282,000.

A number of other institutional investors have also recently bought and sold shares of GDDY. Fiera Capital Corp lifted its holdings in shares of GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company's stock valued at $115,725,000 after purchasing an additional 13,206 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in GoDaddy during the 2nd quarter worth about $9,430,000. Sei Investments Co. grew its stake in GoDaddy by 11.4% during the 2nd quarter. Sei Investments Co. now owns 196,134 shares of the technology company's stock valued at $27,403,000 after acquiring an additional 20,081 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in GoDaddy by 297.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 140,302 shares of the technology company's stock valued at $19,601,000 after acquiring an additional 105,012 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of GoDaddy by 268.4% in the 2nd quarter. ProShare Advisors LLC now owns 25,880 shares of the technology company's stock valued at $3,616,000 after purchasing an additional 18,855 shares during the period. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Price Performance

NYSE GDDY traded down $1.41 on Wednesday, reaching $204.18. The company's stock had a trading volume of 590,628 shares, compared to its average volume of 1,056,314. The firm has a market cap of $28.67 billion, a PE ratio of 15.78 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 52 week low of $106.42 and a 52 week high of $211.11. The business has a 50-day moving average price of $199.16 and a 200 day moving average price of $171.78.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.89 earnings per share. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts expect that GoDaddy Inc. will post 4.96 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on GDDY shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. B. Riley boosted their price target on GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Benchmark increased their price target on shares of GoDaddy from $186.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Raymond James lifted 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. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, GoDaddy presently has an average rating of "Moderate Buy" and a consensus price target of $198.07.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the sale, the chief executive officer now directly owns 345,956 shares of the company's stock, valued at $58,047,957.24. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the transaction, the director now directly owns 24,121 shares in the company, valued at $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,483 shares of company stock valued at $4,759,553 in the last three months. 0.61% of the stock is owned by corporate insiders.

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.