Gries Financial LLC Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Gries Financial LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,205 shares of the technology company’s stock, valued at approximately $238,000.

Other hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. boosted its holdings in GoDaddy by 72.1% in the fourth quarter. Hantz Financial Services Inc. now owns 72,115 shares of the technology company’s stock valued at $14,233,000 after purchasing an additional 30,216 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of GoDaddy by 17.0% during the 4th quarter. Perigon Wealth Management LLC now owns 1,848 shares of the technology company’s stock worth $371,000 after buying an additional 269 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC acquired a new position in shares of GoDaddy in the 4th quarter valued at $222,000. Mount Yale Investment Advisors LLC grew its position in shares of GoDaddy by 205.3% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock valued at $1,110,000 after buying an additional 3,783 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in GoDaddy by 22.3% during the 4th quarter. Pacer Advisors Inc. now owns 65,208 shares of the technology company’s stock worth $12,870,000 after acquiring an additional 11,910 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In other GoDaddy news, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the transaction, the chief accounting officer now directly owns 23,059 shares in the company, valued at approximately $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,483 shares of company stock valued at $4,256,183 over the last quarter. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

GDDY has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Benchmark upped their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their price objective on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $198.07.

GoDaddy Trading Down 0.3 %

Shares of GoDaddy stock opened at $213.32 on Friday. The firm has a market cap of $29.95 billion, a price-to-earnings ratio of 16.49 and a beta of 1.15. GoDaddy Inc. has a 52-week low of $106.42 and a 52-week high of $216.00. The company’s 50-day simple moving average is $202.16 and its 200-day simple moving average is $174.74. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last issued its 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 return on equity of 267.29% and a net margin of 41.74%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 EPS. As a group, equities research analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current year.

GoDaddy 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.