Coldstream Capital Management Inc. Takes Position in GoDaddy Inc. (NYSE:GDDY)

Coldstream Capital Management Inc. purchased a new position in GoDaddy Inc. (NYSE:GDDY) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,940 shares of the technology company’s stock, valued at approximately $314,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of GoDaddy in the 3rd quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new position in GoDaddy in the second quarter worth $28,000. ORG Wealth Partners LLC bought a new stake in GoDaddy during the third quarter valued at $30,000. International Assets Investment Management LLC acquired a new stake in shares of GoDaddy during the second quarter worth $36,000. Finally, Huntington National Bank lifted its position in shares of GoDaddy by 298.7% in the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after buying an additional 230 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $466,800.00. Following the completion of the sale, the chief executive officer now directly owns 348,956 shares of the company’s stock, valued at $54,297,553.60. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 1,554 shares of GoDaddy stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the transaction, the chief accounting officer now directly owns 21,505 shares in the company, valued at $4,384,869.50. This represents a 6.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,503 shares of company stock worth $3,950,683. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Piper Sandler upped their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Benchmark boosted their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Finally, B. Riley upped their target price 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 equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $181.57.

GoDaddy Trading Down 1.0 %

Shares of GDDY stock opened at $206.78 on Monday. The stock has a 50-day simple moving average of $180.63 and a 200 day simple moving average of $160.59. The stock has a market capitalization of $29.03 billion, a P/E ratio of 15.98 and a beta of 1.15. GoDaddy Inc. has a fifty-two week low of $99.90 and a fifty-two week high of $210.30. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

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

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.