Wallace Advisory Group LLC Reduces Holdings in GoDaddy Inc. (NYSE:GDDY)

Wallace Advisory Group LLC reduced its stake in shares of GoDaddy Inc. (NYSE:GDDYFree Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,324 shares of the technology company’s stock after selling 186 shares during the period. Wallace Advisory Group LLC’s holdings in GoDaddy were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GDDY. HighTower Advisors LLC boosted its stake in shares of GoDaddy by 2.3% during the third quarter. HighTower Advisors LLC now owns 17,709 shares of the technology company’s stock valued at $1,323,000 after acquiring an additional 394 shares during the last quarter. Paralel Advisors LLC grew its holdings in shares of GoDaddy by 1.1% during the third quarter. Paralel Advisors LLC now owns 24,607 shares of the technology company’s stock worth $1,833,000 after buying an additional 277 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of GoDaddy by 4.0% during the third quarter. PNC Financial Services Group Inc. now owns 14,031 shares of the technology company’s stock worth $1,045,000 after buying an additional 539 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of GoDaddy by 58.0% in the third quarter. Kestra Advisory Services LLC now owns 5,289 shares of the technology company’s stock valued at $394,000 after buying an additional 1,942 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of GoDaddy during the third quarter valued at approximately $935,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 1.7 %

NYSE GDDY traded up $2.35 during trading hours on Tuesday, reaching $140.76. 930,322 shares of the company traded hands, compared to its average volume of 1,677,237. The stock has a market capitalization of $20.09 billion, a PE ratio of 11.60 and a beta of 1.10. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. GoDaddy Inc. has a 12 month low of $69.18 and a 12 month high of $142.95. The company has a 50 day moving average of $133.24 and a two-hundred day moving average of $119.38.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on GDDY shares. UBS Group boosted their price target on GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Piper Sandler increased their target price on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Benchmark reissued a “buy” rating and issued a $150.00 price target on shares of GoDaddy in a research note on Wednesday, May 1st. 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 research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $149.92.

Get Our Latest Analysis on GoDaddy

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction on Monday, April 1st. The shares were sold at an average price of $118.56, for a total value of $474,240.00. Following the completion of the transaction, the chief operating officer now owns 204,632 shares of the company’s stock, valued at $24,261,169.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total transaction of $75,397.92. Following the sale, the chief financial officer now owns 116,328 shares in the company, valued at $14,055,912.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $118.56, for a total transaction of $474,240.00. Following the completion of the transaction, the chief operating officer now directly owns 204,632 shares in the company, valued at approximately $24,261,169.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,195 shares of company stock worth $6,237,029. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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