Goldman Sachs Group Inc. Boosts Position in GoDaddy Inc. $GDDY

Goldman Sachs Group Inc. grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 9.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,456,110 shares of the technology company’s stock after acquiring an additional 123,993 shares during the period. Goldman Sachs Group Inc.’s holdings in GoDaddy were worth $180,674,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GDDY. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of GoDaddy in the fourth quarter valued at approximately $25,000. Rachor Investment Advisory Services LLC bought a new stake in GoDaddy during the 4th quarter worth approximately $25,000. Activest Wealth Management lifted its stake in GoDaddy by 6,600.0% in the 4th quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after purchasing an additional 198 shares in the last quarter. Harbour Investments Inc. lifted its stake in GoDaddy by 191.0% in the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock worth $32,000 after purchasing an additional 170 shares in the last quarter. Finally, Entrust Financial LLC bought a new position in GoDaddy in the 4th quarter valued at $35,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GoDaddy

In other news, Director Sigal Zarmi sold 350 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $87.84, for a total transaction of $30,744.00. Following the transaction, the director directly owned 5,708 shares in the company, valued at approximately $501,390.72. This represents a 5.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 1,310 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total value of $118,096.50. Following the transaction, the chief accounting officer directly owned 20,349 shares in the company, valued at approximately $1,834,462.35. This represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,561 shares of company stock valued at $1,308,104 over the last quarter. 0.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GDDY. Benchmark reduced their price target on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Royal Bank Of Canada dropped their price objective on GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Evercore set a $95.00 target price on GoDaddy in a research report on Wednesday, February 25th. Piper Sandler began coverage on GoDaddy in a research note on Thursday, March 12th. They issued a “neutral” rating and a $93.00 target price on the stock. Finally, Citigroup lowered their price target on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $120.57.

GoDaddy Stock Performance

GoDaddy stock opened at $84.59 on Monday. The firm’s fifty day moving average price is $85.70 and its 200-day moving average price is $99.42. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $11.20 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.76 and a beta of 0.90. GoDaddy Inc. has a fifty-two week low of $73.06 and a fifty-two week high of $183.34.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.51 earnings per share. On average, equities research analysts expect that GoDaddy Inc. will post 7.17 earnings per share for the current fiscal year.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.