Merit Financial Group LLC Has $553,000 Stake in GoDaddy Inc. (NYSE:GDDY)

Merit Financial Group LLC lifted its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 109.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,070 shares of the technology company's stock after buying an additional 1,603 shares during the quarter. Merit Financial Group LLC's holdings in GoDaddy were worth $553,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in shares of GoDaddy in the fourth quarter worth about $25,554,000. Jones Financial Companies Lllp grew its stake in shares of GoDaddy by 68.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company's stock valued at $243,000 after purchasing an additional 499 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of GoDaddy by 16.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 678 shares of the technology company's stock valued at $134,000 after purchasing an additional 98 shares in the last quarter. LPL Financial LLC raised its position in GoDaddy by 22.9% in the 4th quarter. LPL Financial LLC now owns 66,109 shares of the technology company's stock worth $13,048,000 after purchasing an additional 12,328 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in GoDaddy in the 4th quarter worth approximately $220,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $539,550.00. Following the sale, the chief executive officer now directly owns 443,947 shares in the company, valued at $79,843,867.95. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 684 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total value of $122,990.04. Following the completion of the sale, the chief accounting officer now directly owns 23,371 shares in the company, valued at approximately $4,202,339.51. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 67,459 shares of company stock worth $12,214,374. 0.61% of the stock is owned by company insiders.

GoDaddy Trading Down 0.7%

Shares of NYSE GDDY traded down $1.28 during midday trading on Tuesday, reaching $178.39. 1,236,398 shares of the stock were exchanged, compared to its average volume of 1,501,700. GoDaddy Inc. has a 12 month low of $135.73 and a 12 month high of $216.00. The company has a market capitalization of $25.42 billion, a price-to-earnings ratio of 27.66 and a beta of 1.07. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The business has a 50-day simple moving average of $179.37 and a two-hundred day simple moving average of $189.24.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its 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). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm posted $2.76 earnings per share. The business's revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays decreased their price objective on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. B. Riley raised their price target on GoDaddy from $220.00 to $225.00 and gave the company a "buy" rating in a report on Friday, February 14th. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Citigroup cut their target price on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Wall Street Zen lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.86.

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.