Ingalls & Snyder LLC Trims Position in GoDaddy Inc. (NYSE:GDDY)

Ingalls & Snyder LLC lowered its holdings in GoDaddy Inc. (NYSE:GDDY) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,960 shares of the technology company’s stock after selling 1,225 shares during the period. Ingalls & Snyder LLC’s holdings in GoDaddy were worth $7,492,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Quent Capital LLC increased its holdings in shares of GoDaddy by 4.4% during the 4th quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after buying an additional 53 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in GoDaddy by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after acquiring an additional 67 shares during the last quarter. Prime Capital Investment Advisors LLC raised its holdings in shares of GoDaddy by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock worth $296,000 after purchasing an additional 73 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of GoDaddy by 13.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 742 shares of the technology company’s stock worth $146,000 after purchasing an additional 88 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in shares of GoDaddy by 11.3% in the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after purchasing an additional 99 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Morgan Stanley upped their price target on GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Wells Fargo & Company started coverage on shares of GoDaddy in a research report on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Raymond James raised their target price on GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus price target of $198.53.

GoDaddy Stock Performance

GoDaddy stock opened at $207.44 on Thursday. The company has a market cap of $29.12 billion, a PE ratio of 16.03 and a beta of 1.15. GoDaddy Inc. has a 12 month low of $107.92 and a 12 month high of $216.00. The company has a fifty day moving average price of $204.60 and a two-hundred day moving average price of $179.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

Insider Buying and Selling

In related news, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total value of $151,412.80. Following the completion of the sale, the chief accounting officer now owns 23,059 shares of the company’s stock, valued at $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the completion of the sale, the chief financial officer now directly owns 84,300 shares of the company’s stock, valued at $16,776,543. The trade was a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,483 shares of company stock worth $4,893,633 over the last quarter. 0.61% of the stock is owned by company 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.