Verdence Capital Advisors LLC Increases Stake in GoDaddy Inc. (NYSE:GDDY)

Verdence Capital Advisors LLC increased its position in shares of GoDaddy Inc. (NYSE:GDDY) by 21.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,421 shares of the technology company’s stock after buying an additional 2,349 shares during the period. Verdence Capital Advisors LLC’s holdings in GoDaddy were worth $2,104,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GDDY. Transcendent Capital Group LLC purchased a new stake in GoDaddy during the 2nd quarter worth about $28,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy during the third quarter worth approximately $30,000. ORG Partners LLC purchased a new stake in GoDaddy during the second quarter worth approximately $32,000. International Assets Investment Management LLC acquired a new position in GoDaddy in the second quarter valued at approximately $36,000. Finally, New Covenant Trust Company N.A. purchased a new position in GoDaddy in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY opened at $177.84 on Friday. The stock has a market capitalization of $24.97 billion, a P/E ratio of 13.74 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy Inc. has a 1 year low of $86.11 and a 1 year high of $178.28. The company’s fifty day moving average is $159.96 and its two-hundred day moving average is $149.06.

GoDaddy (NYSE:GDDY) last issued 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 for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.89 earnings per share. On average, sell-side analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on GDDY shares. Benchmark upped their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. B. Riley upped their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird lifted their target price on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Finally, StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $171.38.

Insider Transactions at GoDaddy

In related news, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.61, for a total transaction of $451,191.36. Following the transaction, the chief accounting officer now owns 14,728 shares of the company’s stock, valued at $2,232,912.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the sale, the chief operating officer now directly owns 187,632 shares in the company, valued at approximately $28,551,961.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the sale, the chief accounting officer now owns 14,728 shares in the company, valued at approximately $2,232,912.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,344 shares of company stock valued at $4,529,897. Corporate 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.