FORA Capital LLC Has $2.53 Million Stock Position in GoDaddy Inc. $GDDY

FORA Capital LLC increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 220.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,455 shares of the technology company’s stock after buying an additional 12,692 shares during the quarter. FORA Capital LLC’s holdings in GoDaddy were worth $2,525,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hemington Wealth Management boosted its position in GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of GoDaddy during the third quarter worth approximately $31,000. Rossby Financial LCC increased its holdings in shares of GoDaddy by 125.4% during the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock worth $38,000 after buying an additional 158 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of GoDaddy by 141.5% in the third quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock valued at $49,000 after acquiring an additional 208 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in shares of GoDaddy in the 3rd quarter worth approximately $61,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Trading Up 0.5%

Shares of NYSE GDDY opened at $81.18 on Friday. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $193.55. The firm has a market capitalization of $10.83 billion, a P/E ratio of 13.03, a P/E/G ratio of 0.74 and a beta of 0.96. The company has a debt-to-equity ratio of 17.50, a current ratio of 0.61 and a quick ratio of 0.61. The company’s 50 day simple moving average is $97.46 and its 200 day simple moving average is $120.99.

GoDaddy (NYSE:GDDY) last released its earnings results on Tuesday, February 24th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on GDDY. Citigroup decreased their price target on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Piper Sandler initiated coverage on GoDaddy in a research note on Thursday. They issued a “neutral” rating and a $93.00 price objective on the stock. Benchmark decreased their target price on GoDaddy from $240.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Cantor Fitzgerald lowered their target price on GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $100.00 price target on shares of GoDaddy in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $125.57.

Insider Buying and Selling

In other news, Director Leah Sweet sold 650 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $86.86, for a total value of $56,459.00. Following the completion of the sale, the director directly owned 11,414 shares of the company’s stock, valued at $991,420.04. This represents a 5.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total transaction of $3,038,830.52. Following the completion of the sale, the chief executive officer owned 530,120 shares in the company, valued at $47,175,378.80. This represents a 6.05% 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 61,918 shares of company stock worth $5,500,469. Corporate insiders own 0.70% of the company’s stock.

About GoDaddy

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.