Ritholtz Wealth Management Has $2.65 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Ritholtz Wealth Management increased its position in GoDaddy Inc. (NYSE:GDDY) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,412 shares of the technology company’s stock after purchasing an additional 1,032 shares during the quarter. Ritholtz Wealth Management’s holdings in GoDaddy were worth $2,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GDDY. Ashton Thomas Securities LLC acquired a new stake in GoDaddy in the 3rd quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy in the 3rd quarter valued at $30,000. Anchor Investment Management LLC bought a new stake in shares of GoDaddy in the 3rd quarter worth about $31,000. Versant Capital Management Inc acquired a new stake in shares of GoDaddy during the 4th quarter worth about $43,000. Finally, Huntington National Bank lifted its holdings in GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the transaction, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $207.35, for a total value of $207,350.00. Following the sale, the chief operating officer now directly owns 184,632 shares in the company, valued at approximately $38,283,445.20. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,483 shares of company stock worth $4,759,553. 0.61% of the stock is currently owned by company insiders.

GoDaddy Trading Up 0.0 %

Shares of NYSE GDDY opened at $200.89 on Friday. The company’s 50 day simple moving average is $198.80 and its 200 day simple moving average is $170.99. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a fifty-two week low of $106.32 and a fifty-two week high of $211.11. The firm has a market capitalization of $28.20 billion, a P/E ratio of 15.52 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. On average, analysts predict that GoDaddy Inc. will post 4.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GDDY. Citigroup raised their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Barclays boosted 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. Robert W. Baird lifted their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, B. Riley upped their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $194.14.

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.