SRS Capital Advisors Inc. Decreases Stock Position in GoDaddy Inc. (NYSE:GDDY)

SRS Capital Advisors Inc. lowered its position in shares of GoDaddy Inc. (NYSE:GDDY) by 35.8% during the fourth quarter, HoldingsChannel reports. The firm owned 708 shares of the technology company’s stock after selling 394 shares during the period. SRS Capital Advisors Inc.’s holdings in GoDaddy were worth $140,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC purchased a new stake in shares of GoDaddy during the third quarter worth about $343,000. Wealth Enhancement Advisory Services LLC grew its stake in GoDaddy by 31.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,944 shares of the technology company’s stock valued at $775,000 after purchasing an additional 1,187 shares in the last quarter. National Pension Service increased its holdings in GoDaddy by 7.4% during the 3rd quarter. National Pension Service now owns 288,337 shares of the technology company’s stock worth $45,205,000 after purchasing an additional 19,918 shares during the last quarter. Amalgamated Bank raised its position in shares of GoDaddy by 0.5% in the 3rd quarter. Amalgamated Bank now owns 30,595 shares of the technology company’s stock valued at $4,797,000 after purchasing an additional 163 shares in the last quarter. Finally, Hanseatic Management Services Inc. boosted its stake in shares of GoDaddy by 4.9% during the 3rd quarter. Hanseatic Management Services Inc. now owns 4,793 shares of the technology company’s stock valued at $751,000 after buying an additional 224 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GDDY. Benchmark lifted their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Jefferies Financial Group raised their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Barclays lifted their price target on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, StockNews.com lowered GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $180.66, for a total transaction of $541,980.00. Following the sale, the chief executive officer now owns 505,649 shares of the company’s stock, valued at $91,350,548.34. The trade was a 0.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now directly owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. The trade was a 2.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,034 shares of company stock worth $4,166,030. Insiders own 0.61% of the company’s stock.

GoDaddy Trading Down 0.1 %

NYSE:GDDY opened at $176.29 on Thursday. GoDaddy Inc. has a 12-month low of $109.16 and a 12-month high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The business has a 50 day simple moving average of $196.74 and a 200 day simple moving average of $182.11. The firm has a market capitalization of $24.92 billion, a P/E ratio of 27.33 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. Equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

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.