Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys New Shares in GoDaddy Inc. (NYSE:GDDY)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,325 shares of the technology company’s stock, valued at approximately $262,000.

A number of other hedge funds also recently bought and sold shares of GDDY. Geneos Wealth Management Inc. raised its holdings in shares of GoDaddy by 50.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 552 shares of the technology company’s stock valued at $109,000 after purchasing an additional 184 shares in the last quarter. Fifth Third Bancorp raised its stake in GoDaddy by 11.3% in the fourth quarter. Fifth Third Bancorp now owns 993 shares of the technology company’s stock valued at $196,000 after buying an additional 101 shares in the last quarter. Cottonwood Capital Advisors LLC raised its stake in GoDaddy by 98.2% in the fourth quarter. Cottonwood Capital Advisors LLC now owns 3,405 shares of the technology company’s stock valued at $672,000 after buying an additional 1,687 shares in the last quarter. Hengehold Capital Management LLC lifted its holdings in GoDaddy by 38.9% during the 4th quarter. Hengehold Capital Management LLC now owns 2,994 shares of the technology company’s stock worth $591,000 after buying an additional 839 shares during the last quarter. Finally, Park Place Capital Corp boosted its position in shares of GoDaddy by 91.7% during the 4th quarter. Park Place Capital Corp now owns 648 shares of the technology company’s stock worth $128,000 after acquiring an additional 310 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE GDDY opened at $213.32 on Friday. The stock has a market capitalization of $29.95 billion, a price-to-earnings ratio of 16.49 and a beta of 1.15. The business’s 50 day moving average is $202.16 and its two-hundred day moving average is $174.74. GoDaddy Inc. has a 12-month low of $106.42 and a 12-month high of $216.00. 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 (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. Research analysts expect that GoDaddy Inc. will post 4.96 EPS for the current year.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now owns 24,121 shares in the company, valued at $4,317,659. This represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,483 shares of company stock worth $4,256,183. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their target price on GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Citigroup boosted their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price target (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, B. Riley raised their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $198.07.

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.