Genesis Private Wealth LLC Invests $282,000 in GoDaddy Inc. (NYSE:GDDY)

Genesis Private Wealth LLC acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,430 shares of the technology company’s stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of GoDaddy in the third quarter valued at about $27,000. ORG Wealth Partners LLC bought a new stake in GoDaddy during the 3rd quarter valued at approximately $30,000. Anchor Investment Management LLC purchased a new position in GoDaddy in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the 4th quarter worth approximately $43,000. Finally, Friedenthal Financial bought a new position in GoDaddy in the 4th quarter worth approximately $49,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GDDY stock opened at $205.66 on Wednesday. The stock has a market cap of $28.87 billion, a PE ratio of 15.89 and a beta of 1.15. GoDaddy Inc. has a 12 month low of $106.42 and a 12 month high of $211.11. The company has a 50-day moving average price of $199.16 and a 200 day moving average price of $171.78. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on GDDY. Benchmark boosted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley raised their price objective on GoDaddy from $189.00 to $227.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. B. Riley boosted their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays raised their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $198.07.

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. This represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 480 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the transaction, the chief financial officer now owns 83,254 shares in the company, valued at approximately $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 a total of 24,483 shares of company stock worth $4,759,553 over the last quarter. Company insiders own 0.61% of the company’s stock.

About GoDaddy

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.