Annex Advisory Services LLC Makes New $19.26 Million Investment in GoDaddy Inc. (NYSE:GDDY)

Annex Advisory Services LLC acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 106,931 shares of the technology company’s stock, valued at approximately $19,263,000. Annex Advisory Services LLC owned 0.08% of GoDaddy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in GDDY. Union Bancaire Privee UBP SA purchased a new position in GoDaddy during the 4th quarter valued at about $7,916,000. Spire Wealth Management grew its position in shares of GoDaddy by 1,724.0% in the 4th quarter. Spire Wealth Management now owns 1,751 shares of the technology company’s stock worth $346,000 after buying an additional 1,655 shares during the last quarter. Greenleaf Trust increased its stake in shares of GoDaddy by 3.5% during the fourth quarter. Greenleaf Trust now owns 3,708 shares of the technology company’s stock valued at $732,000 after buying an additional 126 shares during the period. Alliance Wealth Advisors LLC UT bought a new position in shares of GoDaddy during the fourth quarter valued at approximately $386,000. Finally, Trust Point Inc. purchased a new stake in GoDaddy in the fourth quarter worth $961,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $182.19 on Thursday. GoDaddy Inc. has a 1 year low of $135.73 and a 1 year high of $216.00. The firm’s 50-day moving average is $179.34 and its 200 day moving average is $189.45. The stock has a market cap of $25.96 billion, a price-to-earnings ratio of 28.25 and a beta of 1.13. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.76 EPS. Sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. B. Riley boosted their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Barclays lowered their price objective on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating for the company in a report on Friday, May 2nd. Jefferies Financial Group lowered their target price on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, April 7th. Royal Bank of Canada dropped their price target on GoDaddy from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Benchmark reiterated a “buy” rating on shares of GoDaddy in a report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $214.86.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $182.03, for a total value of $91,015.00. Following the completion of the sale, the director now directly owns 20,621 shares in the company, valued at approximately $3,753,640.63. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $182.03, for a total transaction of $546,090.00. Following the completion of the sale, the chief executive officer now owns 437,947 shares of the company’s stock, valued at $79,719,492.41. This represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,526 shares of company stock valued at $10,248,511. Corporate insiders own 0.61% of the company’s stock.

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.