Financial Advisors Network Inc. Takes Position in GoDaddy Inc. $GDDY

Key Points

• Financial Advisors Network Inc. has acquired a new position in GoDaddy Inc., purchasing 32,198 shares valued at approximately $5.8 million, which represents 1.0% of its portfolio.
• GoDaddy's stock has seen significant insider selling, with directors and the COO selling shares totaling over $5.7 million in the last 90 days.
• Analysts have mixed ratings on GoDaddy, with target price adjustments ranging from $157 to $240, and an average rating of "Moderate Buy" according to recent reports.

Financial Advisors Network Inc. acquired a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 32,198 shares of the technology company's stock, valued at approximately $5,800,000. GoDaddy accounts for 1.0% of Financial Advisors Network Inc.'s portfolio, making the stock its 23rd largest holding.

Several other hedge funds also recently added to or reduced their stakes in the business. Jump Financial LLC acquired a new position in GoDaddy in the 4th quarter valued at about $238,000. United Capital Financial Advisors LLC purchased a new position in GoDaddy in the 4th quarter valued at approximately $245,000. NewEdge Advisors LLC grew its stake in shares of GoDaddy by 5.6% in the fourth quarter. NewEdge Advisors LLC now owns 4,179 shares of the technology company's stock worth $825,000 after acquiring an additional 223 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of GoDaddy in the fourth quarter valued at $1,145,000. Finally, GeoWealth Management LLC acquired a new stake in shares of GoDaddy in the fourth quarter valued at $343,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at GoDaddy

In related news, Director Leah Sweet sold 650 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $141.14, for a total transaction of $91,741.00. Following the transaction, the director directly owned 12,064 shares of the company's stock, valued at approximately $1,702,712.96. This trade represents a 5.11% 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, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total transaction of $169,590.00. Following the completion of the sale, the chief operating officer owned 253,949 shares of the company's stock, valued at $43,067,210.91. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,881 shares of company stock worth $5,725,860. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

GDDY has been the topic of a number of recent research reports. Citigroup dropped their price objective on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Barclays decreased their target price on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. JPMorgan Chase & Co. upped their price target on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Benchmark reissued a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Finally, Wells Fargo & Company dropped their price target on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $202.43.

GoDaddy Stock Up 1.7%

Shares of GDDY stock opened at $146.12 on Monday. The firm's fifty day moving average price is $167.44 and its two-hundred day moving average price is $177.07. GoDaddy Inc. has a 1 year low of $132.51 and a 1 year high of $216.00. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33. The firm has a market capitalization of $20.23 billion, a P/E ratio of 26.09, a PEG ratio of 1.58 and a beta of 1.08.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same period last year, the business earned $1.01 earnings per share. The firm's revenue was up 8.3% on a year-over-year basis. On average, equities analysts predict 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.

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