SteelPeak Wealth LLC Invests $2.09 Million in GoDaddy Inc. (NYSE:GDDY)

SteelPeak Wealth LLC purchased a new stake in GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to its most recent filing with the SEC. The firm purchased 13,351 shares of the technology company’s stock, valued at approximately $2,093,000.

Several other hedge funds and other institutional investors have also bought and sold shares of GDDY. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy in the second quarter worth about $28,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy during the third quarter worth $30,000. ORG Partners LLC bought a new stake in GoDaddy in the 2nd quarter valued at $32,000. International Assets Investment Management LLC bought a new position in GoDaddy during the 2nd quarter worth about $36,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of GoDaddy in the 1st quarter valued at about $45,000. Institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,744 shares of company stock valued at $4,089,571. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GDDY shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Royal Bank of Canada raised their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Raymond James increased their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $172.00 target price (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $166.54.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $161.66 on Thursday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The company has a market capitalization of $23.07 billion, a P/E ratio of 13.43 and a beta of 1.12. GoDaddy Inc. has a 12 month low of $72.14 and a 12 month high of $167.65. The stock has a 50 day moving average of $159.15 and a 200-day moving average of $146.57.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. As a group, equities research analysts predict that GoDaddy Inc. will post 5.07 EPS for the current year.

GoDaddy Company 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.