GDS Wealth Management Increases Stake in GoDaddy Inc. (NYSE:GDDY)

GDS Wealth Management raised its position in GoDaddy Inc. (NYSE:GDDY) by 252.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,824 shares of the technology company’s stock after purchasing an additional 7,035 shares during the period. GDS Wealth Management’s holdings in GoDaddy were worth $1,939,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after purchasing an additional 6,424 shares in the last quarter. Highland Capital Management LLC purchased a new position in shares of GoDaddy during the 3rd quarter worth $1,132,000. CWA Asset Management Group LLC raised its holdings in shares of GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock worth $3,172,000 after acquiring an additional 3,631 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after acquiring an additional 9,631 shares during the period. Finally, Dai ichi Life Insurance Company Ltd raised its holdings in shares of GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after acquiring an additional 17,021 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GDDY. Morgan Stanley lifted their price target on GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. lifted their price target on GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company began coverage on GoDaddy in a report on Monday. They set an “equal weight” rating and a $198.00 price target on the stock. Raymond James raised their price objective on GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $198.07.

Insider Transactions at GoDaddy

In other news, CAO Phontip Palitwanon sold 770 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now directly owns 23,059 shares of the company’s stock, valued at approximately $4,534,321.76. The trade was 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 the SEC website. Also, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $201.29, for a total value of $96,619.20. Following the transaction, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,483 shares of company stock valued at $4,256,183. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Performance

NYSE GDDY opened at $212.65 on Tuesday. The company has a market cap of $29.85 billion, a P/E ratio of 16.43 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50-day moving average of $202.89 and a two-hundred day moving average of $175.88. GoDaddy Inc. has a 1-year low of $107.47 and a 1-year high of $216.00.

GoDaddy Company 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.