8,376 Shares in GoDaddy Inc. (NYSE:GDDY) Bought by Brookstone Capital Management

Brookstone Capital Management bought a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,376 shares of the technology company's stock, valued at approximately $1,509,000.

A number of other hedge funds have also recently bought and sold shares of GDDY. Private Trust Co. NA raised its stake in GoDaddy by 591.3% during the first quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock worth $29,000 after purchasing an additional 136 shares during the period. Rakuten Securities Inc. raised its stake in GoDaddy by 311.3% during the fourth 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. raised its stake in 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 purchasing an additional 60 shares during the period. OFI Invest Asset Management purchased a new position in GoDaddy during the fourth quarter worth approximately $52,000. Finally, Crewe Advisors LLC purchased a new position in GoDaddy during the first quarter worth approximately $53,000. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Trading Down 2.4%

Shares of GoDaddy stock traded down $4.28 during trading on Thursday, hitting $170.85. The stock had a trading volume of 1,695,820 shares, compared to its average volume of 1,334,609. The stock has a 50 day simple moving average of $181.00 and a 200 day simple moving average of $185.49. The company has a market capitalization of $24.34 billion, a PE ratio of 32.86 and a beta of 1.05. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91. GoDaddy Inc. has a 1 year low of $140.11 and a 1 year high of $216.00.

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

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Morgan Stanley dropped their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank Of Canada reissued an "outperform" rating and set a $225.00 price objective on shares of GoDaddy in a report on Monday, June 23rd. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.86.

Insider Activity at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 37,500 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $180.95, for a total value of $6,785,625.00. Following the completion of the sale, the chief financial officer directly owned 77,250 shares of the company's stock, valued at $13,978,387.50. The trade was a 32.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 2,173 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total transaction of $386,511.51. Following the completion of the sale, the chief accounting officer directly owned 21,198 shares of the company's stock, valued at $3,770,488.26. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,757 shares of company stock valued at $12,246,080. Company insiders own 0.61% of the company's stock.

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.