Brookstone Capital Management Takes $1.51 Million Position in GoDaddy Inc. (NYSE:GDDY)

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

Other hedge funds also recently modified their holdings of the company. Advisors Capital Management LLC lifted its stake in shares of GoDaddy by 0.9% in the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock valued at $1,223,000 after purchasing an additional 55 shares during the period. BNP Paribas lifted its stake in shares of GoDaddy by 2.9% in the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company's stock valued at $417,000 after purchasing an additional 59 shares during the period. City Holding Co. lifted its stake in shares of GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares during the period. NorthCrest Asset Manangement LLC lifted its stake in shares of GoDaddy by 0.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock valued at $1,435,000 after purchasing an additional 67 shares during the period. Finally, Rehmann Capital Advisory Group increased its position in GoDaddy by 4.1% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company's stock valued at $344,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total value of $1,246,442.92. Following the transaction, the chief executive officer owned 431,015 shares of the company's stock, valued at $77,500,807.15. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 37,500 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 77,250 shares in the company, valued at approximately $13,978,387.50. This represents a 32.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,757 shares of company stock worth $12,246,080 in the last three months. Insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of research analyst reports. Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Jefferies Financial Group cut their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a research note on Monday, June 23rd. Morgan Stanley dropped their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Citigroup dropped their price objective on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $214.86.

GoDaddy Price Performance

Shares of GoDaddy stock traded up $1.33 during trading on Monday, hitting $178.65. The stock had a trading volume of 1,470,144 shares, compared to its average volume of 1,333,436. The firm has a market cap of $25.46 billion, a price-to-earnings ratio of 34.36 and a beta of 1.05. GoDaddy Inc. has a 12 month low of $140.11 and a 12 month high of $216.00. The business's 50-day moving average is $181.62 and its 200 day moving average is $185.81. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly 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). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.76 EPS. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current 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.