Cerity Partners LLC Has $3.27 Million Position in GoDaddy Inc. (NYSE:GDDY)

Cerity Partners LLC boosted its stake in GoDaddy Inc. (NYSE:GDDY) by 5.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,127 shares of the technology company’s stock after purchasing an additional 938 shares during the quarter. Cerity Partners LLC’s holdings in GoDaddy were worth $3,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GDDY. Sowell Financial Services LLC bought a new position in shares of GoDaddy during the 1st quarter worth about $291,000. DAVENPORT & Co LLC raised its stake in GoDaddy by 7.7% during the 1st quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company’s stock worth $354,000 after buying an additional 141 shares during the period. LPL Financial LLC boosted its holdings in GoDaddy by 22.9% in the fourth quarter. LPL Financial LLC now owns 66,109 shares of the technology company’s stock worth $13,048,000 after acquiring an additional 12,328 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in GoDaddy by 13.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the technology company’s stock worth $1,060,000 after acquiring an additional 699 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in GoDaddy by 113.6% in the first quarter. Blue Trust Inc. now owns 645 shares of the technology company’s stock valued at $116,000 after acquiring an additional 343 shares during the period. 90.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GDDY. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $225.00 target price on shares of GoDaddy in a research report on Monday, June 23rd. Citigroup lowered their price objective on shares of GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Barclays dropped their price objective on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Jefferies Financial Group decreased their target price on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research report on Monday, April 7th. Finally, 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 report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $214.86.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 6,000 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $176.93, for a total transaction of $1,061,580.00. Following the completion of the transaction, the chief executive officer owned 425,015 shares in the company, valued at approximately $75,197,903.95. This represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 625 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $177.08, for a total transaction of $110,675.00. Following the sale, the chief financial officer directly owned 73,459 shares in the company, valued at approximately $13,008,119.72. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,757 shares of company stock valued at $12,243,920. Company insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY opened at $168.80 on Friday. The stock has a 50 day moving average of $178.96 and a 200 day moving average of $183.81. The company has a market capitalization of $24.05 billion, a price-to-earnings ratio of 32.46 and a beta of 1.05. GoDaddy Inc. has a 12 month low of $140.11 and a 12 month high of $216.00. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91.

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

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.