Hedeker Wealth LLC Decreases Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Hedeker Wealth LLC cut its stake in GoDaddy Inc. (NYSE:GDDY) by 4.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,108 shares of the technology company’s stock after selling 2,965 shares during the period. GoDaddy makes up about 2.4% of Hedeker Wealth LLC’s holdings, making the stock its 12th largest holding. Hedeker Wealth LLC’s holdings in GoDaddy were worth $8,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. ORG Partners LLC acquired a new stake in shares of GoDaddy during the 2nd quarter worth approximately $32,000. V Square Quantitative Management LLC acquired a new stake in GoDaddy during the fourth quarter worth $28,000. GAMMA Investing LLC raised its position in GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the period. Frazier Financial Advisors LLC acquired a new position in shares of GoDaddy in the 4th quarter valued at $33,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of GoDaddy during the 1st quarter worth $45,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity

In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $141.59, for a total transaction of $141,590.00. Following the sale, the director now owns 11,317 shares of the company’s stock, valued at $1,602,374.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $141.59, for a total value of $141,590.00. Following the completion of the transaction, the director now owns 11,317 shares in the company, valued at $1,602,374.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,413 shares of company stock worth $6,931,096. 0.61% of the stock is currently owned by insiders.

GoDaddy Stock Up 0.7 %

NYSE GDDY traded up $1.15 on Friday, hitting $163.60. 1,028,082 shares of the stock were exchanged, compared to its average volume of 1,602,315. GoDaddy Inc. has a fifty-two week low of $69.18 and a fifty-two week high of $164.25. The company has a 50-day moving average price of $145.34 and a 200-day moving average price of $130.62. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. The company has a market cap of $23.34 billion, a PE ratio of 13.59 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts anticipate that GoDaddy Inc. will post 4.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. William Blair restated an “outperform” rating on shares of GoDaddy in a report on Friday, May 3rd. UBS Group increased their price objective on shares of GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Evercore ISI boosted 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. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley lifted their price objective on GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.25.

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.