Diversify Advisory Services LLC Invests $271,000 in GoDaddy Inc. (NYSE:GDDY)

Diversify Advisory Services LLC bought a new stake in GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,404 shares of the technology company’s stock, valued at approximately $271,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GDDY. Fiera Capital Corp increased its holdings in shares of GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock valued at $115,725,000 after purchasing an additional 13,206 shares during the period. Canada Pension Plan Investment Board acquired a new position in GoDaddy in the 2nd quarter worth approximately $9,430,000. Sei Investments Co. raised its position in GoDaddy by 11.4% during the 2nd quarter. Sei Investments Co. now owns 196,134 shares of the technology company’s stock worth $27,403,000 after buying an additional 20,081 shares during the last quarter. Thrivent Financial for Lutherans raised its position in GoDaddy by 297.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 140,302 shares of the technology company’s stock worth $19,601,000 after buying an additional 105,012 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in GoDaddy by 268.4% during the 2nd quarter. ProShare Advisors LLC now owns 25,880 shares of the technology company’s stock valued at $3,616,000 after acquiring an additional 18,855 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In other 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 completion of the sale, the director now directly owns 24,121 shares in the company, valued at $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $167.79, for a total value of $503,370.00. Following the transaction, the chief executive officer now owns 345,956 shares in the company, valued at approximately $58,047,957.24. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,483 shares of company stock worth $4,759,553. 0.61% of the stock is owned by corporate insiders.

GoDaddy Stock Down 0.7 %

Shares of NYSE GDDY opened at $204.18 on Thursday. The firm has a market cap of $28.67 billion, a price-to-earnings ratio of 15.78 and a beta of 1.15. The company’s 50-day simple moving average is $199.53 and its 200-day simple moving average is $172.22. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 52-week low of $106.42 and a 52-week high of $211.11.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm posted $0.89 EPS. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GDDY shares. Jefferies Financial Group raised their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley lifted their price objective on GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Barclays upped their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Finally, Robert W. Baird upped their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $198.07.

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.