SteelPeak Wealth LLC Has $2.57 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

SteelPeak Wealth LLC trimmed its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,020 shares of the technology company’s stock after selling 331 shares during the period. SteelPeak Wealth LLC’s holdings in GoDaddy were worth $2,570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GDDY. Ashton Thomas Securities LLC purchased a new stake in GoDaddy during the third quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new position in GoDaddy in the 3rd quarter worth approximately $30,000. Anchor Investment Management LLC acquired a new position in GoDaddy in the 3rd quarter worth approximately $31,000. Versant Capital Management Inc purchased a new position in GoDaddy during the 4th quarter worth approximately $43,000. Finally, Huntington National Bank raised its stake 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 period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $214.33 on Wednesday. The firm’s 50-day simple moving average is $201.68 and its 200-day simple moving average is $174.47. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $30.09 billion, a P/E ratio of 16.56 and a beta of 1.15. GoDaddy Inc. has a twelve month low of $106.42 and a twelve month high of $215.35.

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

Insider Buying and Selling

In other news, CFO Mark Mccaffrey sold 480 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $201.29, for a total transaction of $96,619.20. Following the completion of the transaction, the chief financial officer now directly owns 83,254 shares of the company’s stock, valued at $16,758,197.66. This represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $200.57, for a total transaction of $200,570.00. Following the transaction, the chief operating officer now owns 183,632 shares of the company’s stock, valued at approximately $36,831,070.24. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,483 shares of company stock valued at $4,759,553 over the last three months. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GDDY. Morgan Stanley raised their target price on GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Jefferies Financial Group raised their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. B. Riley upped their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Finally, Piper Sandler increased their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.07.

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.