Riverwater Partners LLC Makes New $225,000 Investment in GoDaddy Inc. (NYSE:GDDY)

Riverwater Partners LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, Holdings Channel.com reports. The firm acquired 1,140 shares of the technology company’s stock, valued at approximately $225,000.

A number of other large investors have also made changes to their positions in GDDY. Thoroughbred Financial Services LLC boosted its position in GoDaddy by 39.8% during the fourth quarter. Thoroughbred Financial Services LLC now owns 6,737 shares of the technology company’s stock worth $1,329,000 after acquiring an additional 1,918 shares during the last quarter. Pitcairn Co. boosted its holdings in shares of GoDaddy by 8.3% during the fourth quarter. Pitcairn Co. now owns 15,911 shares of the technology company’s stock worth $3,140,000 after purchasing an additional 1,222 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of GoDaddy in the fourth quarter valued at $4,138,000. Motley Fool Asset Management LLC increased its stake in GoDaddy by 11.4% in the fourth quarter. Motley Fool Asset Management LLC now owns 3,197 shares of the technology company’s stock valued at $631,000 after purchasing an additional 328 shares during the last quarter. Finally, OneAscent Financial Services LLC purchased a new position in GoDaddy during the fourth quarter worth about $201,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on GDDY shares. Wells Fargo & Company initiated coverage on GoDaddy in a report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price target for the company. StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Piper Sandler lifted their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Morgan Stanley upped their price objective on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Barclays lifted their target price on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total value of $200,570.00. Following the completion of the transaction, the chief operating officer now directly owns 183,632 shares in the company, valued at approximately $36,831,070.24. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $989,175.00. Following the sale, the chief financial officer now owns 115,375 shares in the company, valued at $20,750,193.75. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,480 shares of company stock valued at $3,643,589. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Performance

GoDaddy stock opened at $164.34 on Friday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm’s fifty day moving average price is $186.96 and its 200 day moving average price is $185.04. The company has a market capitalization of $23.23 billion, a price-to-earnings ratio of 25.48 and a beta of 1.25. GoDaddy Inc. has a 12-month low of $119.76 and a 12-month high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. On average, research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal 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.