Hennion & Walsh Asset Management Inc. Boosts Stake in GoDaddy Inc. (NYSE:GDDY)

Hennion & Walsh Asset Management Inc. increased its holdings in GoDaddy Inc. (NYSE:GDDY) by 19.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 9,608 shares of the technology company’s stock after purchasing an additional 1,588 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in GoDaddy were worth $1,140,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of GoDaddy during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC grew its position in GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 133 shares during the period. Frazier Financial Advisors LLC purchased a new stake in GoDaddy during the 4th quarter valued at $33,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of GoDaddy by 140.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after buying an additional 205 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in shares of GoDaddy in the first quarter worth $48,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE:GDDY opened at $139.71 on Monday. The stock has a 50-day moving average price of $134.72 and a 200 day moving average price of $120.35. The stock has a market capitalization of $19.93 billion, a P/E ratio of 11.60 and a beta of 1.10. GoDaddy Inc. has a 12-month low of $69.18 and a 12-month high of $142.95. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.08. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. Equities research analysts forecast that GoDaddy Inc. will post 4.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of recent research reports. Robert W. Baird increased their target price on GoDaddy from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, May 24th. William Blair reissued an “outperform” rating on shares of GoDaddy in a report on Friday, May 3rd. Citigroup upped their target price on shares of GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, May 31st. Barclays lifted their price target on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Finally, Raymond James initiated coverage on shares of GoDaddy in a research report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.92.

Insider Activity at GoDaddy

In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $141.59, for a total value of $141,590.00. Following the sale, the director now owns 11,317 shares in the company, valued at approximately $1,602,374.03. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Nick Daddario sold 523 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the sale, the chief accounting officer now owns 22,666 shares in the company, valued at $3,129,947.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leah Sweet sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $141.59, for a total transaction of $141,590.00. Following the sale, the director now directly owns 11,317 shares in the company, valued at approximately $1,602,374.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,195 shares of company stock valued at $5,762,789. Corporate insiders own 0.61% of the company’s stock.

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.