CWA Asset Management Group LLC Decreases Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

CWA Asset Management Group LLC decreased its position in GoDaddy Inc. (NYSE:GDDY) by 87.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,002 shares of the technology company’s stock after selling 14,069 shares during the quarter. CWA Asset Management Group LLC’s holdings in GoDaddy were worth $361,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. increased its stake in shares of GoDaddy by 4.7% during the first quarter. QRG Capital Management Inc. now owns 94,912 shares of the technology company’s stock valued at $17,097,000 after buying an additional 4,277 shares during the period. Sagespring Wealth Partners LLC increased its position in GoDaddy by 15.6% during the 1st quarter. Sagespring Wealth Partners LLC now owns 2,405 shares of the technology company’s stock valued at $433,000 after purchasing an additional 325 shares during the period. Sowell Financial Services LLC purchased a new position in GoDaddy during the 1st quarter valued at $291,000. Optas LLC increased its position in GoDaddy by 6.9% during the 1st quarter. Optas LLC now owns 2,190 shares of the technology company’s stock valued at $395,000 after purchasing an additional 141 shares during the period. Finally, Hengehold Capital Management LLC increased its position in shares of GoDaddy by 9.8% during the first quarter. Hengehold Capital Management LLC now owns 3,286 shares of the technology company’s stock valued at $592,000 after buying an additional 292 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GDDY stock opened at $174.70 on Friday. The company has a market cap of $24.89 billion, a P/E ratio of 33.60 and a beta of 1.07. GoDaddy Inc. has a 1 year low of $136.75 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock’s fifty day moving average price is $180.84 and its 200-day moving average price is $187.90.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.76 earnings per share. On average, equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $539,550.00. Following the transaction, the chief executive officer now directly owns 443,947 shares of the company’s stock, valued at $79,843,867.95. The trade was a 0.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $989,175.00. Following the transaction, the chief financial officer now directly owns 115,375 shares in the company, valued at approximately $20,750,193.75. The trade was a 4.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,632 shares of company stock worth $12,602,635. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GDDY. JPMorgan Chase & Co. upped their target price on GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Piper Sandler upped their target price on shares of GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Benchmark restated a “buy” rating on shares of GoDaddy in a report on Monday, April 28th. Barclays cut their price objective on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Finally, Royal Bank Of Canada cut their price target on GoDaddy from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $214.86.

GoDaddy Company 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.