Proficio Capital Partners LLC Takes Position in GoDaddy Inc. (NYSE:GDDY)

Proficio Capital Partners LLC purchased a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 129,475 shares of the technology company's stock, valued at approximately $25,554,000. Proficio Capital Partners LLC owned 0.09% of GoDaddy at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GDDY. Ashton Thomas Securities LLC purchased a new position in GoDaddy during the 3rd quarter worth $27,000. Anchor Investment Management LLC purchased a new position in GoDaddy during the 3rd quarter worth $31,000. Versant Capital Management Inc purchased a new position in GoDaddy during the 4th quarter worth $43,000. Friedenthal Financial purchased a new position in GoDaddy during the 4th quarter worth $49,000. Finally, Huntington National Bank grew its stake in GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company's stock worth $48,000 after buying an additional 230 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

Shares of GDDY stock traded down $1.94 on Tuesday, hitting $178.18. The company had a trading volume of 1,254,145 shares, compared to its average volume of 1,336,127. The firm has a market cap of $25.19 billion, a P/E ratio of 27.63 and a beta of 1.25. The company has a 50-day moving average price of $192.60 and a 200-day moving average price of $182.83. 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 twelve month low of $117.33 and a twelve month high of $216.00.

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GoDaddy (NYSE:GDDY - Get Free Report) last released 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). The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, equities research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup boosted their target price on GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. B. Riley boosted their price target on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, February 14th. UBS Group boosted their price target on GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Jefferies Financial Group boosted their price target on GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Piper Sandler boosted their price target on GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and a consensus price target of $213.20.

Insider Buying and Selling

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the transaction, the chief operating officer now owns 183,632 shares of the company's stock, valued at $36,831,070.24. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $90,330.00. Following the transaction, the director now directly owns 22,121 shares of the company's stock, valued at $3,996,379.86. The trade was a 2.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,480 shares of company stock valued at $3,641,819. 0.61% of the stock is owned by company 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.