Azzad Asset Management Inc. ADV Buys Shares of 8,124 GoDaddy Inc. $GDDY

Azzad Asset Management Inc. ADV purchased a new stake in GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 8,124 shares of the technology company’s stock, valued at approximately $1,112,000.

Several other institutional investors have also recently made changes to their positions in the company. Bayforest Capital Ltd purchased a new position in GoDaddy in the second quarter worth approximately $26,000. NewSquare Capital LLC lifted its stake 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. Hemington Wealth Management grew its holdings in shares of GoDaddy by 85.9% during the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after purchasing an additional 85 shares during the period. Root Financial Partners LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth about $31,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in GoDaddy in the 2nd quarter valued at about $66,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction dated 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 owned 399,133 shares of the company’s stock, valued at $51,065,076.02. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the transaction, the chief accounting officer directly owned 17,055 shares of the company’s stock, valued at approximately $2,190,544.20. This represents a 12.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 13,615 shares of company stock worth $1,743,102. Company insiders own 0.70% of the company’s stock.

GoDaddy Price Performance

GoDaddy stock opened at $97.38 on Monday. 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 Inc. has a 52-week low of $92.22 and a 52-week high of $214.32. The firm has a market cap of $13.16 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.94. The company’s 50 day moving average is $116.06 and its two-hundred day moving average is $131.49.

Analysts Set New Price Targets

Several brokerages have weighed in on GDDY. JPMorgan Chase & Co. lowered their target price on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Royal Bank Of Canada set a $70.00 price objective on shares of GoDaddy in a research report on Wednesday, January 7th. Morgan Stanley dropped their target price on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Citigroup cut their target price on GoDaddy from $214.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, Jefferies Financial Group lowered their price target on GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $166.21.

GoDaddy Company 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.