CW Advisors LLC Decreases Stock Position in GoDaddy Inc. $GDDY

CW Advisors LLC cut its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 21.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,574 shares of the technology company’s stock after selling 12,932 shares during the quarter. CW Advisors LLC’s holdings in GoDaddy were worth $8,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of GDDY. Bayforest Capital Ltd bought a new stake in GoDaddy in the second quarter valued at approximately $26,000. NewSquare Capital LLC increased its stake in shares of GoDaddy by 170.9% in the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after buying an additional 94 shares during the period. Zions Bancorporation National Association UT bought a new stake in GoDaddy during the 1st quarter valued at $30,000. Banque Transatlantique SA purchased a new stake in GoDaddy during the 1st quarter valued at $36,000. Finally, Steph & Co. purchased a new stake in GoDaddy during the 2nd quarter valued at $55,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Trading Up 0.1%

NYSE GDDY opened at $130.23 on Friday. The firm has a market capitalization of $17.60 billion, a PE ratio of 22.49, a P/E/G ratio of 1.45 and a beta of 0.95. The stock’s 50 day moving average is $131.10 and its 200 day moving average is $152.06. GoDaddy Inc. has a twelve month low of $121.94 and a twelve month high of $216.00. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. GoDaddy had a return on equity of 231.34% and a net margin of 17.01%.The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $1.32 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $886,880.08. Following the sale, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at $51,065,076.02. The trade was a 1.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $145.71, for a total value of $145,710.00. Following the completion of the sale, the chief operating officer owned 251,949 shares in the company, valued at $36,711,488.79. The trade was a 0.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,218 shares of company stock valued at $2,615,781 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GDDY shares. Morgan Stanley set a $159.00 price objective on shares of GoDaddy in a research report on Friday, October 31st. Royal Bank Of Canada reduced their price target on GoDaddy from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Benchmark reiterated a “buy” rating on shares of GoDaddy in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of GoDaddy in a research report on Friday, October 31st. Finally, Raymond James Financial restated a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.14.

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.