Insight Wealth Strategies LLC Has $3.46 Million Stock Holdings in GoDaddy Inc. $GDDY

Insight Wealth Strategies LLC lifted its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 19.4% during the third quarter, HoldingsChannel reports. The firm owned 25,271 shares of the technology company’s stock after acquiring an additional 4,107 shares during the quarter. Insight Wealth Strategies LLC’s holdings in GoDaddy were worth $3,458,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bayforest Capital Ltd acquired a new stake in GoDaddy in the 2nd quarter valued at $26,000. NewSquare Capital LLC raised its holdings in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after purchasing an additional 94 shares during the period. Banque Transatlantique SA bought a new stake in GoDaddy in the first quarter valued at approximately $36,000. Steph & Co. acquired a new stake in shares of GoDaddy in the second quarter valued at approximately $55,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of GoDaddy by 252.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 345 shares of the technology company’s stock worth $62,000 after acquiring an additional 247 shares during the period. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GDDY shares. Evercore ISI cut their price objective on shares of GoDaddy from $180.00 to $145.00 and set an “in-line” rating for the company in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of GoDaddy in a research report on Friday, October 31st. JPMorgan Chase & Co. dropped their target price on shares of GoDaddy from $222.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $150.00 target price on shares of GoDaddy in a report on Friday, October 31st. Finally, Benchmark restated a “buy” rating on shares of GoDaddy in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.14.

GoDaddy Price Performance

GDDY stock opened at $123.80 on Tuesday. The firm has a 50 day simple moving average of $129.63 and a two-hundred day simple moving average of $148.80. GoDaddy Inc. has a one year low of $121.94 and a one year high of $216.00. The company has a debt-to-equity ratio of 41.06, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a market cap of $16.73 billion, a PE ratio of 21.38, a P/E/G ratio of 1.39 and a beta of 0.95.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 231.34%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company earned $1.32 EPS. The firm’s revenue was up 10.3% on a year-over-year basis. On average, analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, CAO Phontip Palitwanon sold 2,397 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the sale, the chief accounting officer owned 17,055 shares in the company, valued at approximately $2,190,544.20. This trade represents a 12.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $133.11, for a total transaction of $66,555.00. Following the completion of the transaction, the director directly owned 19,957 shares of the company’s stock, valued at approximately $2,656,476.27. The trade was a 2.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 14,615 shares of company stock worth $1,877,942. 0.70% of the stock is currently owned by company insiders.

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.