Friedenthal Financial Takes Position in GoDaddy Inc. (NYSE:GDDY)

Friedenthal Financial purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,793 shares of the technology company’s stock, valued at approximately $809,000.

Several other large investors have also made changes to their positions in GDDY. V Square Quantitative Management LLC bought a new position in GoDaddy in the fourth quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after buying an additional 133 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in GoDaddy during the fourth quarter worth $33,000. New Covenant Trust Company N.A. bought a new position in shares of GoDaddy in the first quarter valued at $45,000. Finally, Rise Advisors LLC acquired a new position in shares of GoDaddy during the first quarter valued at about $48,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GDDY shares. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Evercore ISI raised their target price on GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Benchmark reiterated a “buy” rating and set a $158.00 price target on shares of GoDaddy in a report on Monday, July 29th. Piper Sandler increased their price target on GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.25.

GoDaddy Stock Performance

GDDY traded up $1.52 during trading on Tuesday, hitting $159.98. 1,230,398 shares of the company traded hands, compared to its average volume of 1,612,608. GoDaddy Inc. has a one year low of $69.18 and a one year high of $160.73. The stock’s fifty day moving average is $143.54 and its 200 day moving average is $129.27. 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 firm has a market cap of $22.83 billion, a P/E ratio of 13.29 and a beta of 1.14.

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

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 4,058 shares of GoDaddy stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total value of $542,514.02. Following the completion of the transaction, the chief financial officer now directly owns 112,473 shares in the company, valued at approximately $15,036,515.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the firm’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 directly owns 11,317 shares of the company’s stock, valued at approximately $1,602,374.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 4,058 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total transaction of $542,514.02. Following the transaction, the chief financial officer now owns 112,473 shares of the company’s stock, valued at $15,036,515.37. The disclosure for this sale can be found here. Insiders sold 53,471 shares of company stock worth $7,473,610 over the last quarter. 0.61% of the stock is currently owned by company insiders.

About GoDaddy

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.