Versant Capital Management Inc Invests $43,000 in GoDaddy Inc. (NYSE:GDDY)

Versant Capital Management Inc purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 217 shares of the technology company’s stock, valued at approximately $43,000.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of GoDaddy during the 3rd quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new position in GoDaddy in the third quarter valued at $30,000. Anchor Investment Management LLC acquired a new position in shares of GoDaddy in the third quarter worth about $31,000. Huntington National Bank boosted its stake in shares of GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after acquiring an additional 230 shares in the last quarter. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of GoDaddy during the 3rd quarter valued at about $49,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Price Performance

GoDaddy stock opened at $199.05 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a 50-day moving average price of $193.67 and a 200 day moving average price of $167.80. GoDaddy Inc. has a 12-month low of $100.43 and a 12-month high of $211.11. The stock has a market cap of $27.94 billion, a P/E ratio of 15.38 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 EPS. Sell-side analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Analyst Ratings Changes

GDDY has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Citigroup upped their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Piper Sandler raised their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.71.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the transaction, the chief executive officer now directly owns 345,956 shares in the company, valued at $58,047,957.24. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the sale, the chief operating officer now owns 186,632 shares in the company, valued at $30,637,509.12. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,003 shares of company stock valued at $4,626,523 in the last quarter. Insiders own 0.61% of the company’s stock.

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.