B. Riley Wealth Advisors Inc. Invests $245,000 in GoDaddy Inc. (NYSE:GDDY)

B. Riley Wealth Advisors Inc. bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,751 shares of the technology company’s stock, valued at approximately $245,000.

Other hedge funds have also modified their holdings of the company. Plato Investment Management Ltd raised its holdings in GoDaddy by 2,471.0% during the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after buying an additional 6,227 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after acquiring an additional 35,703 shares in the last quarter. Forsta AP Fonden boosted its stake in GoDaddy by 87.5% in the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after purchasing an additional 39,200 shares during the period. Swedbank AB grew its position in GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after purchasing an additional 5,247 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in GoDaddy by 866.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock valued at $1,227,000 after purchasing an additional 9,266 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the sale, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the sale, the chief executive officer now owns 358,773 shares in the company, valued at $59,882,801.43. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,744 shares of company stock valued at $4,950,771 in the last quarter. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GDDY. Piper Sandler reaffirmed a “neutral” rating and issued a $172.00 target price (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Robert W. Baird upped their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Barclays increased their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $166.54.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $160.10 on Wednesday. The stock has a market capitalization of $22.84 billion, a P/E ratio of 13.30 and a beta of 1.12. The business has a 50-day moving average of $157.09 and a two-hundred day moving average of $142.40. 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 current ratio of 0.48 and a quick ratio of 0.48.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) 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 company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the company earned $0.63 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that GoDaddy Inc. will post 5.06 EPS 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.