TriaGen Wealth Management LLC Invests $1.34 Million in GoDaddy Inc. (NYSE:GDDY)

TriaGen Wealth Management LLC purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 6,785 shares of the technology company’s stock, valued at approximately $1,339,000.

Several other institutional investors have also bought and sold shares of GDDY. State Street Corp raised its holdings in GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock valued at $1,080,549,000 after buying an additional 147,105 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of GoDaddy by 2.5% in the third quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock worth $535,153,000 after purchasing an additional 84,550 shares during the period. FMR LLC increased its stake in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of GoDaddy by 17.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after purchasing an additional 203,909 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of GoDaddy by 25.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 575,007 shares of the technology company’s stock worth $90,150,000 after purchasing an additional 117,028 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Trading Down 0.6 %

NYSE:GDDY opened at $212.32 on Friday. 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 firm has a 50-day moving average of $202.89 and a 200-day moving average of $175.47. The company has a market cap of $29.81 billion, a PE ratio of 16.41 and a beta of 1.15. GoDaddy Inc. has a one year low of $106.42 and a one year high of $216.00.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 earnings per share. As a group, equities research analysts expect that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 24,121 shares of the company’s stock, valued at $4,317,659. The trade was a 2.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Mccaffrey sold 480 shares of GoDaddy stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $201.29, for a total transaction of $96,619.20. Following the transaction, the chief financial officer now directly owns 83,254 shares in the company, valued at $16,758,197.66. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,483 shares of company stock valued at $4,256,183 in the last quarter. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Morgan Stanley upped their price objective on GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. B. Riley upped their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Five investment 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $198.07.

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.