Net Worth Advisory Group Invests $380,000 in GoDaddy Inc. (NYSE:GDDY)

Net Worth Advisory Group acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,426 shares of the technology company’s stock, valued at approximately $380,000.

A number of other hedge funds have also recently bought and sold shares of GDDY. Vanguard Group Inc. lifted its stake in shares of GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after purchasing an additional 379,228 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after acquiring an additional 1,775,708 shares during the period. Federated Hermes Inc. grew its position in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after acquiring an additional 394,399 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after purchasing an additional 235,934 shares during the period. Finally, Fiera Capital Corp grew its holdings in GoDaddy by 1.6% during the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock valued at $115,725,000 after purchasing an additional 13,206 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $164.70 on Friday. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65. The firm has a fifty day simple moving average of $159.14 and a 200-day simple moving average of $144.63. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock has a market capitalization of $23.50 billion, a price-to-earnings ratio of 13.68 and a beta of 1.12.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GDDY. Barclays lifted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Robert W. Baird raised their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. B. Riley upped their price target on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Piper Sandler reiterated a “neutral” rating and issued a $172.00 price objective (up from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Finally, Royal Bank of Canada raised their price target on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and an average price target of $166.54.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at $2,783,599.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $439,440.00. Following the completion of the sale, the chief executive officer now owns 362,398 shares in the company, valued at $53,084,059.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,744 shares of company stock worth $5,114,931 over the last ninety days. 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.