GoDaddy Inc. (NYSE:GDDY) is Hedeker Wealth LLC’s 8th Largest Position

Hedeker Wealth LLC cut its position in GoDaddy Inc. (NYSE:GDDY) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,628 shares of the technology company’s stock after selling 2,277 shares during the quarter. GoDaddy accounts for 2.8% of Hedeker Wealth LLC’s portfolio, making the stock its 8th largest position. Hedeker Wealth LLC’s holdings in GoDaddy were worth $11,177,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after acquiring an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in GoDaddy by 13.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock valued at $146,000 after acquiring an additional 88 shares in the last quarter. Lindbrook Capital LLC raised its holdings in GoDaddy by 11.3% in the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after acquiring an additional 99 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in GoDaddy by 11.3% in the fourth quarter. Fifth Third Bancorp now owns 993 shares of the technology company’s stock valued at $196,000 after acquiring an additional 101 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on GDDY shares. JPMorgan Chase & Co. upped their price target on shares of GoDaddy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley upped their price target on shares of GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Jefferies Financial Group increased their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. B. Riley increased their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Six 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. According to MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.53.

GoDaddy Stock Up 0.4 %

GDDY stock opened at $210.71 on Friday. 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 Inc. has a fifty-two week low of $107.92 and a fifty-two week high of $216.00. The firm’s 50-day simple moving average is $203.64 and its 200 day simple moving average is $177.05. The stock has a market cap of $29.58 billion, a PE ratio of 16.28 and a beta of 1.15.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $197.77, for a total value of $593,310.00. Following the completion of the transaction, the chief executive officer now owns 342,956 shares in the company, valued at $67,826,408.12. This represents a 0.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares of the company’s stock, valued at $16,776,543. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,983 shares of company stock valued at $4,983,133 in the last quarter. Company insiders own 0.61% of the company’s stock.

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.