Sagespring Wealth Partners LLC Acquires Shares of 2,080 GoDaddy Inc. (NYSE:GDDY)

Sagespring Wealth Partners LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,080 shares of the technology company's stock, valued at approximately $411,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in GoDaddy by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock valued at $692,245,000 after purchasing an additional 90,810 shares during the last quarter. WCM Investment Management LLC increased its stake in GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after buying an additional 3,356,678 shares during the period. Invesco Ltd. raised its holdings in GoDaddy by 11.6% during the fourth quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock worth $575,122,000 after purchasing an additional 304,033 shares in the last quarter. Norges Bank acquired a new stake in shares of GoDaddy in the 4th quarter valued at approximately $356,038,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of GoDaddy by 2.9% in the fourth quarter. Bank of New York Mellon Corp now owns 949,691 shares of the technology company's stock valued at $187,441,000 after purchasing an additional 26,341 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

Shares of NYSE GDDY traded down $5.40 during midday trading on Monday, hitting $166.38. The company's stock had a trading volume of 159,100 shares, compared to its average volume of 1,461,219. The firm has a market cap of $23.52 billion, a P/E ratio of 25.80 and a beta of 1.19. GoDaddy Inc. has a 1-year low of $120.23 and a 1-year high of $216.00. The firm's fifty day moving average price is $177.13 and its 200-day moving average price is $186.15. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results 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%. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $623,100.00. Following the sale, the chief executive officer now owns 330,153 shares of the company's stock, valued at approximately $68,572,778.10. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the completion of the sale, the director now owns 22,621 shares in the company, valued at $4,698,381.70. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock worth $3,518,150 in the last ninety days. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Piper Sandler increased their price target on shares of GoDaddy from $176.00 to $177.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. StockNews.com downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Morgan Stanley cut their target price on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Jefferies Financial Group reduced their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, GoDaddy currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.73.

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.