New Century Financial Group LLC Boosts Holdings in GoDaddy Inc. (NYSE:GDDY)

New Century Financial Group LLC increased its holdings in GoDaddy Inc. (NYSE:GDDYFree Report) by 10.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,544 shares of the technology company’s stock after purchasing an additional 234 shares during the period. New Century Financial Group LLC’s holdings in GoDaddy were worth $302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in GoDaddy in the 4th quarter worth approximately $28,000. GAMMA Investing LLC raised its holdings in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in GoDaddy during the 4th quarter valued at $33,000. Massmutual Trust Co. FSB ADV grew its holdings in 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 acquiring an additional 205 shares during the last quarter. Finally, Rise Advisors LLC bought a new stake in GoDaddy in the 1st quarter worth $48,000. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GDDY. Evercore ISI increased their target price on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Raymond James assumed coverage on GoDaddy in a research report on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price objective on the stock. Benchmark restated a “buy” rating and set a $150.00 target price on shares of GoDaddy in a report on Wednesday, May 1st. Royal Bank of Canada lifted their price target on shares of GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, Piper Sandler upped their price objective on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.92.

View Our Latest Research Report on GoDaddy

GoDaddy Price Performance

Shares of GDDY opened at $143.69 on Friday. GoDaddy Inc. has a fifty-two week low of $69.18 and a fifty-two week high of $145.36. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $20.50 billion, a PE ratio of 11.93 and a beta of 1.14. The firm’s 50-day simple moving average is $136.31 and its two-hundred day simple moving average is $121.19.

GoDaddy (NYSE:GDDYGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. Analysts anticipate that GoDaddy Inc. will post 4.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, CAO Nick Daddario sold 523 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $72,221.07. Following the sale, the chief accounting officer now directly owns 22,666 shares in the company, valued at approximately $3,129,947.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Leah Sweet sold 1,000 shares of GoDaddy stock in a transaction that occurred 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 completion of the sale, the director now directly owns 11,317 shares in the company, valued at $1,602,374.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Nick Daddario sold 523 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the transaction, the chief accounting officer now owns 22,666 shares in the company, valued at approximately $3,129,947.94. The disclosure for this sale can be found here. Insiders sold a total of 50,071 shares of company stock worth $6,875,606 in the last three months. Insiders own 0.61% of the company’s stock.

About GoDaddy

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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