Hengehold Capital Management LLC Invests $246,000 in GoDaddy Inc. (NYSE:GDDY)

Hengehold Capital Management LLC purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,074 shares of the technology company’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GDDY. V Square Quantitative Management LLC acquired a new stake in shares of GoDaddy in the fourth quarter worth approximately $28,000. GAMMA Investing LLC boosted its position in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of GoDaddy in the fourth quarter worth approximately $33,000. Massmutual Trust Co. FSB ADV boosted its position in shares of GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock worth $37,000 after acquiring an additional 205 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in GoDaddy during the third quarter valued at approximately $44,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,825 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $942,464.25. Following the completion of the sale, the chief executive officer now directly owns 377,498 shares of the company’s stock, valued at approximately $52,128,698.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Leah Sweet sold 1,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $141.59, for a total value of $141,590.00. Following the transaction, the director now owns 11,317 shares in the company, valued at approximately $1,602,374.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,825 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $942,464.25. Following the completion of the transaction, the chief executive officer now owns 377,498 shares in the company, valued at approximately $52,128,698.82. The disclosure for this sale can be found here. In the last three months, insiders sold 46,195 shares of company stock valued at $6,237,029. 0.61% of the stock is owned by insiders.

GoDaddy Stock Performance

Shares of GDDY traded up $0.49 during midday trading on Thursday, hitting $140.31. 1,074,360 shares of the stock traded hands, compared to its average volume of 1,684,690. GoDaddy Inc. has a 1-year low of $69.18 and a 1-year high of $142.95. The firm has a market capitalization of $20.02 billion, a PE ratio of 11.65 and a beta of 1.10. 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 business’s 50 day moving average price is $134.33 and its two-hundred day moving average price is $119.92.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.08. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. Equities research analysts predict that GoDaddy Inc. will post 4.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GDDY. Barclays lifted their price target on shares of GoDaddy from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Benchmark reaffirmed a “buy” rating and set a $150.00 price target on shares of GoDaddy in a research report on Wednesday, May 1st. Piper Sandler lifted their price objective on shares of GoDaddy from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Royal Bank of Canada lifted their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, B. Riley lifted their price objective on shares of GoDaddy from $124.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $149.92.

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.