Ritholtz Wealth Management Has $1.94 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Ritholtz Wealth Management lifted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 19.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,380 shares of the technology company’s stock after purchasing an additional 2,012 shares during the period. Ritholtz Wealth Management’s holdings in GoDaddy were worth $1,941,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt grew its stake in GoDaddy by 26.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 57,300 shares of the technology company’s stock valued at $8,983,000 after buying an additional 12,100 shares during the last quarter. Private Advisory Group LLC bought a new stake in GoDaddy in the 3rd quarter valued at about $984,000. Pensionfund Sabic bought a new stake in GoDaddy in the 3rd quarter valued at about $941,000. USA Financial Formulas lifted its holdings in shares of GoDaddy by 217.5% during the 3rd quarter. USA Financial Formulas now owns 7,189 shares of the technology company’s stock worth $1,127,000 after acquiring an additional 4,925 shares during the period. Finally, CWM LLC lifted its holdings in shares of GoDaddy by 2.7% during the 3rd quarter. CWM LLC now owns 6,034 shares of the technology company’s stock worth $946,000 after acquiring an additional 159 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $163.13 on Monday. GoDaddy Inc. has a 52-week low of $71.15 and a 52-week high of $167.65. The stock has a market capitalization of $23.28 billion, a price-to-earnings ratio of 13.55 and a beta of 1.12. The company has a fifty day moving average of $158.06 and a 200-day moving average of $143.11. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. Equities research analysts expect that GoDaddy Inc. will post 5.07 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on GDDY shares. B. Riley increased their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Robert W. Baird increased their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Raymond James increased their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada increased their target price on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Benchmark increased their target price on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $166.54.

Insiders Place Their Bets

In other GoDaddy news, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the transaction, the chief accounting officer now directly owns 17,704 shares in the company, valued at approximately $2,783,599.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Nick Daddario sold 684 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $585,920.00. Following the sale, the chief operating officer now directly owns 188,632 shares in the company, valued at $27,630,815.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,744 shares of company stock worth $4,950,771. 0.61% of the stock is currently owned by corporate insiders.

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.