Argent Capital Management LLC Takes $2.53 Million Position in GoDaddy Inc. (NYSE:GDDY)

Argent Capital Management LLC bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,130 shares of the technology company’s stock, valued at approximately $2,529,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of GoDaddy by 102.3% during 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 period. Wealth Enhancement Advisory Services LLC boosted its stake in GoDaddy by 60.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,459 shares of the technology company’s stock valued at $529,000 after purchasing an additional 1,678 shares during the period. Hengehold Capital Management LLC acquired a new position in GoDaddy in the 1st quarter valued at $246,000. Hennion & Walsh Asset Management Inc. increased its position in GoDaddy by 19.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 9,608 shares of the technology company’s stock worth $1,140,000 after buying an additional 1,588 shares during the period. Finally, Diversified Trust Co increased its position in GoDaddy by 35.2% during the 1st quarter. Diversified Trust Co now owns 3,515 shares of the technology company’s stock worth $417,000 after buying an additional 916 shares during the period. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of a number of recent research reports. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada raised their target price on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Barclays raised their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Raymond James upped their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Five research 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’s stock. According to data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $166.54.

GoDaddy Price Performance

Shares of GoDaddy stock traded up $1.29 during midday trading on Thursday, hitting $163.18. 111,297 shares of the company traded hands, compared to its average volume of 1,469,122. The firm’s fifty day moving average price is $159.34 and its 200-day moving average price is $145.44. The stock has a market cap of $23.28 billion, a price-to-earnings ratio of 13.50 and a beta of 1.12. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65. 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 posted its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share 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 company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.63 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts forecast that GoDaddy Inc. will post 5.07 earnings per share for the current year.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the sale, the chief executive officer now directly owns 362,398 shares in the company, valued at $53,084,059.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the transaction, the chief operating officer now directly owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,744 shares of company stock valued at $5,114,931. 0.61% of the stock is currently 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.