Gries Financial LLC Acquires Shares of 1,205 GoDaddy Inc. (NYSE:GDDY)

Gries Financial LLC bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,205 shares of the technology company’s stock, valued at approximately $238,000.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in GoDaddy during the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new position in GoDaddy in the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy in the fourth quarter valued at approximately $43,000. Finally, Huntington National Bank increased its holdings in shares of GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after purchasing an additional 230 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GDDY. Benchmark boosted their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Citigroup upped their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a report on Friday, January 3rd. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Morgan Stanley raised their price target on shares of GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.07.

Insider Activity

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,483 shares of company stock valued at $4,256,183. 0.61% of the stock is currently owned by company insiders.

GoDaddy Trading Down 0.3 %

GDDY opened at $213.32 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a market cap of $29.95 billion, a P/E ratio of 16.49 and a beta of 1.15. GoDaddy Inc. has a 52 week low of $106.42 and a 52 week high of $216.00. The business has a fifty day simple moving average of $202.16 and a 200-day simple moving average of $174.74.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. On average, equities analysts expect that GoDaddy Inc. will post 4.96 earnings per share for the current year.

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.