Diversified Trust Co. Invests $1.13 Million in GoDaddy Inc. $GDDY

Diversified Trust Co. acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,067 shares of the technology company’s stock, valued at approximately $1,125,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Hemington Wealth Management raised its holdings in 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 buying an additional 85 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of GoDaddy during the third quarter valued at approximately $31,000. Brown Brothers Harriman & Co. increased its position in shares of GoDaddy by 145.6% during the third quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after acquiring an additional 150 shares in the last quarter. Rossby Financial LCC increased its position in shares of GoDaddy by 125.4% during the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock valued at $38,000 after acquiring an additional 158 shares in the last quarter. Finally, Bayforest Capital Ltd raised its holdings in GoDaddy by 141.5% in the 3rd quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock worth $49,000 after acquiring an additional 208 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of research analyst reports. Royal Bank Of Canada lowered their price target on GoDaddy from $200.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Citigroup reduced their price objective on GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Wells Fargo & Company decreased their target price on GoDaddy from $145.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. Piper Sandler started coverage on shares of GoDaddy in a research note on Thursday, March 12th. They set a “neutral” rating and a $93.00 target price on the stock. Finally, Evercore set a $95.00 price target on shares of GoDaddy in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $125.57.

GoDaddy Trading Up 0.1%

Shares of GoDaddy stock opened at $81.63 on Friday. The company has a debt-to-equity ratio of 17.50, a quick ratio of 0.61 and a current ratio of 0.61. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $193.55. The company has a fifty day moving average of $91.96 and a 200 day moving average of $117.04. The company has a market capitalization of $10.89 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.72 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last posted its earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.22. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the company posted $1.36 earnings per share. GoDaddy’s quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, CFO Mark Mccaffrey sold 17,406 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $1,548,959.94. Following the completion of the sale, the chief financial officer directly owned 113,003 shares of the company’s stock, valued at $10,056,136.97. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 530,120 shares in the company, valued at $47,175,378.80. This trade represents a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,918 shares of company stock worth $5,500,469 over the last three months. 0.70% of the stock is owned by company insiders.

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.