Brookstone Capital Management Purchases New Shares in GoDaddy Inc. (NYSE:GDDY)

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

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. 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 about $52,000. Finally, Crewe Advisors LLC purchased a new position in GoDaddy during the first quarter worth about $53,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GoDaddy

In related news, CAO Phontip Palitwanon sold 2,173 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the sale, the chief accounting officer owned 21,198 shares in the company, valued at $3,770,488.26. This represents a 9.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $175.96, for a total transaction of $175,960.00. Following the completion of the sale, the chief operating officer owned 254,949 shares of the company's stock, valued at approximately $44,860,826.04. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,757 shares of company stock worth $12,246,080. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GDDY. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $225.00 target price on shares of GoDaddy in a research note on Monday, June 23rd. Jefferies Financial Group dropped their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research report on Monday, April 7th. Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Barclays dropped their price target on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, Benchmark reiterated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Seven equities research 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.com, GoDaddy currently has an average rating of "Moderate Buy" and an average target price of $214.86.

GoDaddy Stock Down 0.1%

NYSE GDDY traded down $0.26 on Tuesday, hitting $178.33. 102,228 shares of the stock were exchanged, compared to its average volume of 1,470,858. 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 fifty-two week low of $140.11 and a fifty-two week high of $216.00. The company has a market cap of $25.41 billion, a PE ratio of 34.31 and a beta of 1.05. The company has a 50-day moving average price of $181.49 and a 200-day moving average price of $185.62.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.76 EPS. Sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal 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.