2,007 Shares in GoDaddy Inc. (NYSE:GDDY) Acquired by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. bought a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,007 shares of the technology company's stock, valued at approximately $362,000.

Other large investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. increased its holdings in GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after purchasing an additional 165 shares during the period. City Holding Co. increased its stake in shares of GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after buying an additional 60 shares during the period. OFI Invest Asset Management purchased a new stake in shares of GoDaddy during the fourth quarter worth approximately $52,000. Summit Securities Group LLC purchased a new stake in shares of GoDaddy during the fourth quarter worth approximately $58,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of GoDaddy in the 4th quarter valued at approximately $67,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GDDY. Wall Street Zen downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Barclays dropped their target price on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Jefferies Financial Group dropped their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Finally, Piper Sandler raised their target price on shares of GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $214.86.

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 37,500 shares of GoDaddy stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the completion of the sale, the chief financial officer now directly owns 77,250 shares in the company, valued at approximately $13,978,387.50. This trade represents a 32.68% decrease in their position. 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 business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the sale, the chief operating officer now directly owns 256,949 shares in the company, valued at $44,130,990.75. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,632 shares of company stock worth $12,602,635 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Performance

NYSE:GDDY opened at $174.70 on Friday. The firm has a market cap of $24.89 billion, a price-to-earnings ratio of 33.60 and a beta of 1.07. The firm's fifty day moving average price is $180.84 and its 200 day moving average price is $188.04. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 1-year low of $136.00 and a 1-year high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the firm earned $2.76 EPS. The firm's revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

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.

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