GoDaddy Inc. (NYSE:GDDY) Stock Position Raised by Hengehold Capital Management LLC

Hengehold Capital Management LLC grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 38.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,994 shares of the technology company’s stock after purchasing an additional 839 shares during the period. Hengehold Capital Management LLC’s holdings in GoDaddy were worth $591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDDY. Fiera Capital Corp boosted its holdings in shares of GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after buying an additional 13,206 shares during the period. ProShare Advisors LLC grew its position in shares of GoDaddy by 268.4% in the second quarter. ProShare Advisors LLC now owns 25,880 shares of the technology company’s stock valued at $3,616,000 after purchasing an additional 18,855 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in GoDaddy in the 2nd quarter valued at approximately $242,000. Bank of Montreal Can increased its position in GoDaddy by 328.7% during the second quarter. Bank of Montreal Can now owns 135,286 shares of the technology company’s stock worth $19,105,000 after acquiring an additional 103,729 shares during the period. Finally, Xponance Inc. increased its holdings in shares of GoDaddy by 2.2% during the 2nd quarter. Xponance Inc. now owns 31,594 shares of the technology company’s stock worth $4,414,000 after purchasing an additional 692 shares during the period. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Piper Sandler boosted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Citigroup increased their target price on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.07.

GoDaddy Stock Up 1.2 %

GDDY stock opened at $206.70 on Friday. GoDaddy Inc. has a twelve month low of $106.42 and a twelve month high of $211.11. The company has a market cap of $29.02 billion, a price-to-earnings ratio of 15.97 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The business has a 50 day moving average price of $199.84 and a two-hundred day moving average price of $172.44.

GoDaddy (NYSE:GDDY) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 earnings per share. Analysts anticipate that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. This represents a 2.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the sale, the chief executive officer now owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,483 shares of company stock worth $4,759,553 over the last ninety days. Insiders own 0.61% of the company’s stock.

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.