Redwood Investment Management LLC Boosts Holdings in GoDaddy Inc. (NYSE:GDDY)

Redwood Investment Management LLC boosted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,369 shares of the technology company’s stock after buying an additional 669 shares during the quarter. Redwood Investment Management LLC’s holdings in GoDaddy were worth $4,604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of GDDY. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of GoDaddy during the third quarter valued at $1,401,000. Pathstone Family Office LLC purchased a new stake in shares of GoDaddy during the third quarter valued at $356,000. HighTower Advisors LLC lifted its stake in GoDaddy by 2.3% in the third quarter. HighTower Advisors LLC now owns 17,709 shares of the technology company’s stock worth $1,323,000 after acquiring an additional 394 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in GoDaddy by 2.0% in the third quarter. State Board of Administration of Florida Retirement System now owns 213,455 shares of the technology company’s stock worth $15,898,000 after acquiring an additional 4,212 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in GoDaddy in the third quarter worth about $2,214,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on GDDY. Royal Bank of Canada upped their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Morgan Stanley upped their target price on GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Evercore ISI upped their target price on GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. Citigroup upped their target price on GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Barclays upped their target price on GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $149.92.

GoDaddy Stock Down 1.4 %

Shares of GDDY traded down $1.94 during midday trading on Tuesday, hitting $140.10. The company had a trading volume of 1,333,568 shares, compared to its average volume of 1,418,385. The company’s 50-day simple moving average is $130.55 and its 200-day simple moving average is $116.71. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $19.99 billion, a P/E ratio of 11.60 and a beta of 1.10. GoDaddy Inc. has a 1 year low of $69.18 and a 1 year high of $142.95.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. As a group, sell-side analysts expect that GoDaddy Inc. will post 4.82 EPS for the current year.

Insiders Place Their Bets

In other GoDaddy news, CAO Nick Daddario sold 7,278 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $138.92, for a total transaction of $1,011,059.76. Following the sale, the chief accounting officer now directly owns 18,388 shares in the company, valued at $2,554,460.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Leah Sweet sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $141.59, for a total value of $141,590.00. Following the sale, the director now directly owns 11,317 shares in the company, valued at $1,602,374.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nick Daddario sold 7,278 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $138.92, for a total value of $1,011,059.76. Following the completion of the sale, the chief accounting officer now owns 18,388 shares in the company, valued at $2,554,460.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,695 shares of company stock worth $6,537,029. 0.61% of the stock is owned by corporate 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.