Moran Wealth Management LLC Buys New Position in GoDaddy Inc. (NYSE:GDDY)

Moran Wealth Management LLC bought a new stake in GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 74,990 shares of the technology company’s stock, valued at approximately $14,801,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy in the third quarter valued at approximately $27,000. Anchor Investment Management LLC purchased a new position in GoDaddy in the 3rd quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new position in shares of GoDaddy in the fourth quarter worth $43,000. Huntington National Bank increased its position in shares of GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after acquiring an additional 230 shares during the period. Finally, Friedenthal Financial acquired a new stake in shares of GoDaddy in the fourth quarter valued at $49,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other GoDaddy news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $90,330.00. Following the transaction, the director now directly owns 22,121 shares of the company’s stock, valued at approximately $3,996,379.86. This trade represents a 2.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $180.66, for a total transaction of $541,980.00. Following the completion of the sale, the chief executive officer now directly owns 505,649 shares of the company’s stock, valued at $91,350,548.34. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock valued at $3,849,169 in the last ninety days. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on GDDY. B. Riley boosted their target price on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Barclays boosted their price objective on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Citigroup raised their target price on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Benchmark lifted their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, UBS Group increased their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Stock Performance

Shares of GDDY stock opened at $175.52 on Monday. The stock’s 50-day moving average is $195.50 and its two-hundred day moving average is $182.38. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a 1 year low of $113.01 and a 1 year high of $216.00. The firm has a market cap of $24.81 billion, a price-to-earnings ratio of 27.21 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

GoDaddy Profile

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.