Concurrent Investment Advisors LLC Invests $767,000 in GoDaddy Inc. (NYSE:GDDY)

Concurrent Investment Advisors LLC purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,258 shares of the technology company's stock, valued at approximately $767,000.

Several other large investors have also recently bought and sold shares of GDDY. Jones Financial Companies Lllp raised its position in GoDaddy by 68.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company's stock worth $243,000 after acquiring an additional 499 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in GoDaddy by 16.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 678 shares of the technology company's stock worth $134,000 after acquiring an additional 98 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in GoDaddy in the fourth quarter worth $25,554,000. Raymond James Financial Inc. purchased a new position in GoDaddy in the fourth quarter worth $44,668,000. Finally, PNC Financial Services Group Inc. raised its position in GoDaddy by 16.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,295 shares of the technology company's stock worth $1,440,000 after acquiring an additional 1,010 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several research analyst reports. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Royal Bank Of Canada restated an "outperform" rating and issued a $225.00 price target on shares of GoDaddy in a research report on Monday, June 23rd. Morgan Stanley decreased their price objective on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, Barclays decreased their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $214.86.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total transaction of $1,246,442.92. Following the transaction, the chief executive officer directly owned 431,015 shares in the company, valued at $77,500,807.15. This represents a 1.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the transaction, the chief operating officer owned 256,949 shares in the company, valued at approximately $44,130,990.75. The trade was a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,757 shares of company stock valued at $12,246,080 in the last 90 days. Company insiders own 0.61% of the company's stock.

GoDaddy Trading Down 1.8%

NYSE:GDDY traded down $3.02 on Friday, reaching $167.75. The stock had a trading volume of 1,655,369 shares, compared to its average volume of 1,337,059. The company has a market cap of $23.90 billion, a price-to-earnings ratio of 32.26 and a beta of 1.05. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. The firm's fifty day moving average is $180.38 and its two-hundred day moving average is $184.99. GoDaddy Inc. has a 12-month low of $140.11 and a 12-month high of $216.00.

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

GoDaddy 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.