Rise Advisors LLC Takes $48,000 Position in GoDaddy Inc. (NYSE:GDDY)

Rise Advisors LLC purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 402 shares of the technology company’s stock, valued at approximately $48,000.

Other large investors have also recently added to or reduced their stakes in the company. Ingalls & Snyder LLC raised its position in GoDaddy by 0.3% in the fourth quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock worth $4,451,000 after acquiring an additional 120 shares in the last quarter. GAMMA Investing LLC grew its position 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 period. Parkside Financial Bank & Trust increased its holdings in GoDaddy by 7.6% in the third quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock valued at $144,000 after buying an additional 137 shares in the last quarter. Quent Capital LLC lifted its position in shares of GoDaddy by 30.8% during the 4th quarter. Quent Capital LLC now owns 637 shares of the technology company’s stock valued at $68,000 after acquiring an additional 150 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of GoDaddy by 27.4% during the 4th quarter. Fifth Third Bancorp now owns 730 shares of the technology company’s stock worth $77,000 after acquiring an additional 157 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of GoDaddy in a report on Friday, May 3rd. UBS Group raised their price target on GoDaddy from $118.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Piper Sandler boosted their price objective on shares of GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Raymond James began coverage on shares of GoDaddy in a report on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 target price for the company. Finally, Barclays lifted their target price on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.92.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 6,825 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $942,464.25. Following the completion of the transaction, the chief executive officer now owns 377,498 shares of the company’s stock, valued at approximately $52,128,698.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Leah Sweet sold 1,000 shares of GoDaddy stock in a transaction on Monday, June 10th. The stock was sold at an average price of $141.59, for a total value of $141,590.00. Following the transaction, the director now owns 11,317 shares in the company, valued at $1,602,374.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,825 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $942,464.25. Following the sale, the chief executive officer now directly owns 377,498 shares of the company’s stock, valued at approximately $52,128,698.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,195 shares of company stock valued at $6,237,029. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.6 %

Shares of NYSE GDDY opened at $137.93 on Friday. The firm has a market cap of $19.68 billion, a P/E ratio of 11.46 and a beta of 1.10. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. GoDaddy Inc. has a 1 year low of $69.18 and a 1 year high of $142.95. The firm’s 50 day moving average price is $132.62 and its 200 day moving average price is $118.67.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 4.82 earnings per share for the current year.

GoDaddy Company 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.