Opal Wealth Advisors LLC Has $306,000 Position in GoDaddy Inc. (NYSE:GDDY)

Opal Wealth Advisors LLC reduced its holdings in GoDaddy Inc. (NYSE:GDDY) by 11.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,697 shares of the technology company’s stock after selling 217 shares during the period. Opal Wealth Advisors LLC’s holdings in GoDaddy were worth $306,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GDDY. Norges Bank acquired a new position in shares of GoDaddy during the 4th quarter worth about $356,038,000. Assenagon Asset Management S.A. increased its stake in shares of GoDaddy by 1,412.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company’s stock worth $242,727,000 after purchasing an additional 1,258,324 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company’s stock worth $273,582,000 after purchasing an additional 719,000 shares during the last quarter. Congress Asset Management Co. acquired a new position in shares of GoDaddy during the 4th quarter worth about $111,923,000. Finally, GAMMA Investing LLC grew its stake in GoDaddy by 18,248.7% in the 1st quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company’s stock valued at $92,516,000 after buying an additional 510,780 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Down 1.2%

Shares of GDDY opened at $175.57 on Friday. GoDaddy Inc. has a 12 month low of $135.73 and a 12 month high of $216.00. The firm’s 50 day moving average is $179.95 and its 200-day moving average is $188.94. The stock has a market capitalization of $25.02 billion, a PE ratio of 27.22 and a beta of 1.07. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted $2.76 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on GDDY. Wall Street Zen cut shares of GoDaddy from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. UBS Group increased their price target on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. B. Riley increased their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Piper Sandler increased their price target on shares of GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Finally, Barclays lowered their price target on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $214.86.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total transaction of $171,750.00. Following the sale, the chief operating officer now owns 256,949 shares in the company, valued at approximately $44,130,990.75. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $989,175.00. Following the sale, the chief financial officer now owns 115,375 shares in the company, valued at $20,750,193.75. This represents a 4.55% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,632 shares of company stock valued at $12,426,675. 0.61% of the stock is currently owned by company insiders.

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.