Alliance Wealth Management Group Acquires New Holdings in GoDaddy Inc. (NYSE:GDDY)

Alliance Wealth Management Group bought a new stake in GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,214 shares of the technology company’s stock, valued at approximately $240,000.

Other hedge funds also recently bought and sold shares of the company. Anchor Investment Management LLC acquired a new position in shares of GoDaddy in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy in the fourth quarter valued at approximately $43,000. Rakuten Securities Inc. lifted its stake in GoDaddy by 311.3% during the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock worth $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial purchased a new position in shares of GoDaddy during the fourth quarter worth $49,000. Finally, OFI Invest Asset Management acquired a new stake in shares of GoDaddy in the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $174.21, for a total transaction of $174,210.00. Following the completion of the sale, the chief operating officer now directly owns 257,949 shares of the company’s stock, valued at approximately $44,937,295.29. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $541,980.00. Following the completion of the transaction, the chief executive officer now owns 505,649 shares in the company, valued at $91,350,548.34. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock valued at $3,816,029 in the last ninety days. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GDDY shares. UBS Group increased their target price on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Raymond James increased their price target on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Benchmark upped their target price 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. Finally, B. Riley boosted their price target on shares of GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $213.20.

GoDaddy Trading Up 0.7 %

NYSE:GDDY opened at $180.20 on Tuesday. The stock has a 50-day simple moving average of $189.38 and a 200-day simple moving average of $184.61. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The stock has a market cap of $25.47 billion, a P/E ratio of 27.94 and a beta of 1.25. GoDaddy Inc. has a 1 year low of $118.39 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data 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). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. As a group, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal 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.