Wedbush Securities Inc. Purchases Shares of 1,526 GoDaddy Inc. (NYSE:GDDY)

Wedbush Securities Inc. acquired a new stake in GoDaddy Inc. (NYSE:GDDY) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,526 shares of the technology company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in GoDaddy during the 4th quarter valued at approximately $28,000. Transcendent Capital Group LLC bought a new position in shares of GoDaddy during the second quarter valued at approximately $28,000. GAMMA Investing LLC lifted its stake in GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares during the period. ORG Partners LLC bought a new stake in GoDaddy in the second quarter valued at $32,000. Finally, Frazier Financial Advisors LLC purchased a new position in GoDaddy during the 4th quarter valued at $33,000. 90.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GDDY shares. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Robert W. Baird lifted their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Benchmark lifted their price target on GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, B. Riley increased their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.08.

Insider Activity at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the transaction, the chief financial officer now owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $559,160.00. Following the completion of the sale, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Insiders have sold 30,744 shares of company stock valued at $4,664,216 over the last ninety days. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Down 0.2 %

NYSE:GDDY opened at $152.28 on Monday. The firm has a 50-day simple moving average of $153.13 and a two-hundred day simple moving average of $137.55. The firm has a market cap of $21.47 billion, a P/E ratio of 12.65 and a beta of 1.13. GoDaddy Inc. has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. 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 firm earned $0.63 earnings per share. GoDaddy’s revenue was up 7.3% on a year-over-year basis. Analysts predict that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal 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.