HBK Sorce Advisory LLC Acquires New Holdings in GoDaddy Inc. (NYSE:GDDY)

HBK Sorce Advisory LLC purchased a new position in GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,121 shares of the technology company’s stock, valued at approximately $221,000.

Several other institutional investors have also added to or reduced their stakes in the business. Quent Capital LLC boosted its holdings in GoDaddy by 4.4% in the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company’s stock worth $248,000 after acquiring an additional 53 shares in the last quarter. Lake Street Advisors Group LLC raised its stake in shares of GoDaddy by 4.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company’s stock worth $283,000 after purchasing an additional 64 shares during the last quarter. New York Life Investment Management LLC raised its stake in shares of GoDaddy by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company’s stock worth $3,708,000 after purchasing an additional 71 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in GoDaddy by 4.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares in the last quarter. Finally, Metis Global Partners LLC raised its position in GoDaddy by 1.1% during the fourth quarter. Metis Global Partners LLC now owns 6,557 shares of the technology company’s stock valued at $1,294,000 after acquiring an additional 74 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00. Following the transaction, the director now owns 23,121 shares of the company’s stock, valued at approximately $4,601,310.21. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the completion of the sale, the chief operating officer now owns 184,632 shares in the company, valued at $38,283,445.20. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,480 shares of company stock valued at $3,849,169. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $176.06 on Friday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The business’s 50 day moving average price is $192.98 and its 200-day moving average price is $182.59. The firm has a market capitalization of $24.89 billion, a PE ratio of 27.30 and a beta of 1.25. GoDaddy Inc. has a 1 year low of $117.33 and a 1 year high of $216.00.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. As a group, equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on GDDY. Morgan Stanley lifted their price target on GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Barclays lifted their price target on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Robert W. Baird boosted their price objective on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Citigroup boosted their price objective on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

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.