Howard Capital Management Inc. Invests $217,000 in GoDaddy Inc. (NYSE:GDDY)

Howard Capital Management Inc. acquired a new position in GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,098 shares of the technology company’s stock, valued at approximately $217,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in GoDaddy in the third quarter worth $27,000. Anchor Investment Management LLC acquired a new position in GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc acquired a new position in GoDaddy in the fourth quarter worth $43,000. Huntington National Bank boosted its holdings in shares of GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after acquiring an additional 230 shares during the period. Finally, Friedenthal Financial acquired a new position in shares of GoDaddy during the fourth quarter valued at $49,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $176.49 on Wednesday. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The company’s 50-day moving average price is $200.66 and its two-hundred day moving average price is $181.45. GoDaddy Inc. has a 52 week low of $108.38 and a 52 week high of $216.00. The stock has a market cap of $24.78 billion, a PE ratio of 27.36 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the subject of several analyst reports. B. Riley boosted their price target on shares of GoDaddy from $220.00 to $225.00 and gave the company a “buy” rating in a report on Friday, February 14th. Raymond James boosted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Benchmark boosted their price target on shares of GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Robert W. Baird boosted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted 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, February 6th. Seven analysts have rated the stock with a hold rating, nine 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 a consensus rating of “Moderate Buy” and a consensus price target of $213.20.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $194.28, for a total transaction of $194,280.00. Following the sale, the chief operating officer now owns 182,632 shares in the company, valued at approximately $35,481,744.96. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the sale, the chief executive officer now owns 342,956 shares in the company, valued at approximately $67,826,408.12. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,482 shares of company stock worth $4,903,930. 0.61% of the stock is owned by corporate insiders.

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.