GoDaddy Inc. (NYSE:GDDY) Position Decreased by Hedeker Wealth LLC

Hedeker Wealth LLC decreased its position in GoDaddy Inc. (NYSE:GDDY) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,628 shares of the technology company’s stock after selling 2,277 shares during the period. GoDaddy comprises 2.8% of Hedeker Wealth LLC’s portfolio, making the stock its 8th largest holding. Hedeker Wealth LLC’s holdings in GoDaddy were worth $11,177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GDDY. Ashton Thomas Securities LLC purchased a new stake in GoDaddy during the third quarter worth about $27,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy during the third quarter worth about $30,000. Anchor Investment Management LLC purchased a new stake in GoDaddy during the third quarter worth about $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy during the fourth quarter worth about $43,000. Finally, Huntington National Bank boosted its holdings in GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE:GDDY opened at $210.71 on Friday. GoDaddy Inc. has a 1-year low of $107.92 and a 1-year high of $216.00. The firm has a 50 day simple moving average of $203.64 and a 200-day simple moving average of $177.05. The firm has a market cap of $29.58 billion, a PE ratio of 16.28 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $623,100.00. Following the completion of the sale, the chief executive officer now directly owns 330,153 shares in the company, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the sale, the director now owns 22,621 shares of the company’s stock, valued at approximately $4,698,381.70. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,983 shares of company stock worth $4,983,133. 0.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Citigroup boosted their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Piper Sandler lifted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley lifted their target price on shares of GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Wells Fargo & Company initiated coverage on shares of GoDaddy in a research report on Monday. They set an “equal weight” rating and a $198.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus price target of $198.53.

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.