GDS Wealth Management Increases Stock Holdings in GoDaddy Inc. $GDDY

GDS Wealth Management increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 14.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,577 shares of the technology company’s stock after buying an additional 8,637 shares during the quarter. GDS Wealth Management’s holdings in GoDaddy were worth $9,383,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hemington Wealth Management boosted its position in shares of GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after acquiring an additional 85 shares during the last quarter. Bayforest Capital Ltd purchased a new position in GoDaddy during the second quarter worth approximately $26,000. NewSquare Capital LLC boosted its holdings in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after purchasing an additional 94 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of GoDaddy during the 3rd quarter valued at $31,000. Finally, Mather Group LLC. acquired a new stake in shares of GoDaddy during the 3rd quarter worth $61,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GoDaddy stock opened at $103.57 on Friday. The stock’s 50 day moving average price is $121.34 and its 200 day moving average price is $136.63. The firm has a market capitalization of $14.00 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 0.94 and a beta of 0.95. The company has a debt-to-equity ratio of 41.06, a quick ratio of 0.57 and a current ratio of 0.57. GoDaddy Inc. has a one year low of $102.85 and a one year high of $216.00.

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

Insider Activity

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $133.11, for a total transaction of $66,555.00. Following the sale, the director directly owned 19,957 shares of the company’s stock, valued at approximately $2,656,476.27. The trade was a 2.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $886,880.08. Following the completion of the transaction, the chief executive officer directly owned 399,133 shares of the company’s stock, valued at $51,065,076.02. This represents a 1.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 14,115 shares of company stock worth $1,809,657. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. B. Riley reduced their target price on GoDaddy from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Royal Bank Of Canada set a $70.00 price objective on GoDaddy in a research note on Wednesday, January 7th. Jefferies Financial Group decreased their target price on GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a report on Monday, January 5th. Citigroup cut their price target on shares of GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, UBS Group reduced their price target on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average target price of $166.21.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.