HB Wealth Management LLC Raises Holdings in GoDaddy Inc. (NYSE:GDDY)

HB Wealth Management LLC raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 54.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,243 shares of the technology company’s stock after purchasing an additional 1,498 shares during the period. HB Wealth Management LLC’s holdings in GoDaddy were worth $764,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in GoDaddy by 11.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company’s stock worth $751,778,000 after buying an additional 395,160 shares in the last quarter. Geode Capital Management LLC grew its position in shares of GoDaddy by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company’s stock valued at $692,245,000 after purchasing an additional 90,810 shares in the last quarter. WCM Investment Management LLC grew its position in shares of GoDaddy by 2.0% during the first quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company’s stock valued at $620,931,000 after purchasing an additional 67,152 shares in the last quarter. Invesco Ltd. grew its position in shares of GoDaddy by 11.6% during the fourth quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company’s stock valued at $575,122,000 after purchasing an additional 304,033 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of GoDaddy by 8.8% during the fourth quarter. Northern Trust Corp now owns 1,430,180 shares of the technology company’s stock valued at $282,275,000 after purchasing an additional 115,341 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Down 0.8%

Shares of NYSE GDDY opened at $163.77 on Thursday. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $23.34 billion, a P/E ratio of 31.49 and a beta of 1.05. GoDaddy Inc. has a 1 year low of $140.51 and a 1 year high of $216.00. The firm has a 50-day simple moving average of $175.52 and a two-hundred day simple moving average of $182.11.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.76 EPS. Research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 625 shares of GoDaddy stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $177.08, for a total transaction of $110,675.00. Following the completion of the sale, the chief financial officer owned 73,459 shares of the company’s stock, valued at approximately $13,008,119.72. The trade was a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Phontip Palitwanon sold 2,173 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total transaction of $386,511.51. Following the sale, the chief accounting officer directly owned 21,198 shares of the company’s stock, valued at $3,770,488.26. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,257 shares of company stock valued at $11,575,910 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup cut their price objective on GoDaddy from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Benchmark restated a “buy” rating on shares of GoDaddy in a research report on Monday, April 28th. Wall Street Zen lowered GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Morgan Stanley cut their price objective on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, Piper Sandler lifted their price target on GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average price target of $214.86.

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.