Signature Estate & Investment Advisors LLC Takes $209,000 Position in GoDaddy Inc. (NYSE:GDDY)

Signature Estate & Investment Advisors LLC bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,498 shares of the technology company’s stock, valued at approximately $209,000.

Other hedge funds have also added to or reduced their stakes in the company. Gulf International Bank UK Ltd grew its holdings in GoDaddy by 0.9% during the first quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock worth $1,427,000 after purchasing an additional 113 shares during the period. Sivia Capital Partners LLC raised its stake in GoDaddy by 3.9% in the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after acquiring an additional 113 shares during the period. GAMMA Investing LLC raised its stake in GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in GoDaddy by 28.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 681 shares of the technology company’s stock valued at $95,000 after purchasing an additional 152 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its position in GoDaddy by 7.6% during the first quarter. iA Global Asset Management Inc. now owns 2,653 shares of the technology company’s stock worth $315,000 after purchasing an additional 187 shares during the period. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 0.3 %

Shares of NYSE:GDDY opened at $164.72 on Wednesday. GoDaddy Inc. has a 52-week low of $70.03 and a 52-week high of $165.89. The company has a market capitalization of $23.50 billion, a PE ratio of 13.68 and a beta of 1.14. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The company has a fifty day moving average of $148.84 and a 200-day moving average of $133.41.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company earned $0.63 EPS. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that GoDaddy Inc. will post 4.81 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,825 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $942,464.25. Following the completion of the sale, the chief executive officer now directly owns 377,498 shares in the company, valued at $52,128,698.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,413 shares of company stock valued at $6,510,706. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Raymond James lifted their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. B. Riley increased their target price on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Evercore ISI increased their price objective on GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Finally, Morgan Stanley boosted their target price on shares of GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus price target of $163.58.

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.