Inceptionr LLC Sells 2,973 Shares of GoDaddy Inc. (NYSE:GDDY)

Inceptionr LLC cut its stake in GoDaddy Inc. (NYSE:GDDY) by 29.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,212 shares of the technology company’s stock after selling 2,973 shares during the quarter. Inceptionr LLC’s holdings in GoDaddy were worth $1,423,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GDDY. Ashton Thomas Securities LLC bought a new stake in GoDaddy in the third quarter worth $27,000. Anchor Investment Management LLC purchased a new stake in GoDaddy in the third quarter worth $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy in the fourth quarter worth $43,000. Huntington National Bank increased its stake in GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after purchasing an additional 230 shares during the period. Finally, Friedenthal Financial purchased a new stake in GoDaddy in the fourth quarter worth $49,000. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Price Performance

GDDY opened at $176.29 on Thursday. The business’s 50-day moving average is $196.74 and its two-hundred day moving average is $182.11. GoDaddy Inc. has a 1 year low of $109.16 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm has a market capitalization of $24.92 billion, a PE ratio of 27.33 and a beta of 1.15.

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

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $597,030.00. Following the completion of the sale, the chief executive officer now owns 333,153 shares of the company’s stock, valued at approximately $66,300,778.53. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Phontip Palitwanon sold 1,554 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the sale, the chief accounting officer now directly owns 21,505 shares of the company’s stock, valued at approximately $4,384,869.50. This represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,034 shares of company stock valued at $4,166,030. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GDDY shares. JPMorgan Chase & Co. increased their target price on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Jefferies Financial Group increased their target price on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler increased their target price on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Citigroup increased their target price on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley raised their price target on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $213.20.

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.