Cetera Investment Advisers Acquires 8,719 Shares of GoDaddy Inc. (NYSE:GDDY)

Key Points

• Cetera Investment Advisers increased its stake in GoDaddy Inc. by 37.6% during the first quarter, bringing their total holdings to 31,919 shares worth approximately $5.75 million.
• Several institutional investors, including Raymond James Financial Inc. and American Century Companies Inc., also modified their positions in GoDaddy, contributing to hedge funds owning 90.28% of the company's stock.
• GoDaddy reported earnings of $1.27 per share for the latest quarter, which was below analyst expectations, and achieved revenue of $1.19 billion, reflecting an 8.6% increase year-over-year.

Cetera Investment Advisers lifted its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 37.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,919 shares of the technology company's stock after purchasing an additional 8,719 shares during the period. Cetera Investment Advisers' holdings in GoDaddy were worth $5,750,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Cornerstone Planning Group LLC increased its position in shares of GoDaddy by 123.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after buying an additional 79 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of GoDaddy in the first quarter worth about $27,000. Private Trust Co. NA increased its holdings in shares of GoDaddy by 591.3% in the first quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock worth $29,000 after acquiring an additional 136 shares in the last quarter. GW&K Investment Management LLC increased its stake in GoDaddy by 307.9% during the 1st quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock worth $46,000 after purchasing an additional 194 shares in the last quarter. Finally, City Holding Co. increased its stake in GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after purchasing an additional 60 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $1,246,442.92. Following the completion of the transaction, the chief executive officer directly owned 431,015 shares in the company, valued at approximately $77,500,807.15. The trade was a 1.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 3,317 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total value of $596,429.77. Following the transaction, the chief financial officer owned 74,084 shares of the company's stock, valued at $13,321,044.04. This represents a 4.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,757 shares of company stock worth $4,790,285. Company insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GDDY. Barclays lowered their target price on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Piper Sandler increased their price objective 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. Wall Street Zen cut GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Morgan Stanley lowered their target price on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Benchmark reiterated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Seven 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 stock has a consensus rating of "Moderate Buy" and an average target price of $214.86.

GoDaddy Stock Up 1.0%

Shares of NYSE:GDDY traded up $1.61 during midday trading on Monday, hitting $158.08. The stock had a trading volume of 1,644,654 shares, compared to its average volume of 1,468,744. GoDaddy Inc. has a 12 month low of $144.72 and a 12 month high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91. The business's 50-day simple moving average is $174.54 and its 200-day simple moving average is $181.36. The company has a market cap of $22.53 billion, a P/E ratio of 30.62 and a beta of 1.08.

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 firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business earned $2.76 EPS. The business's revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share 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.