Hennessy Advisors Inc. Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Hennessy Advisors Inc. bought a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,500 shares of the technology company's stock, valued at approximately $2,432,000.

Several other large investors also recently bought and sold shares of GDDY. Proficio Capital Partners LLC purchased a new position in GoDaddy in the fourth quarter valued at approximately $25,554,000. Jones Financial Companies Lllp lifted its holdings 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 worth $243,000 after purchasing an additional 499 shares during the period. Steward Partners Investment Advisory LLC boosted 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 acquiring an additional 98 shares in the last quarter. LPL Financial LLC boosted its holdings in GoDaddy by 22.9% in the 4th quarter. LPL Financial LLC now owns 66,109 shares of the technology company's stock valued at $13,048,000 after purchasing an additional 12,328 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new position in GoDaddy during the fourth quarter worth $220,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

Insider Buying and Selling

In other GoDaddy 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 transaction of $539,550.00. Following the completion of the sale, the chief executive officer now owns 443,947 shares of the company's stock, valued at approximately $79,843,867.95. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the completion of the transaction, the chief operating officer now owns 256,949 shares in the company, valued at approximately $44,130,990.75. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,632 shares of company stock valued at $12,426,675. Insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Piper Sandler lifted their price objective on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Morgan Stanley cut their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Citigroup reduced their target price on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $214.86.

GoDaddy Trading Up 0.0%

Shares of NYSE:GDDY traded up $0.01 during midday trading on Tuesday, reaching $178.10. The company's stock had a trading volume of 1,335,472 shares, compared to its average volume of 1,477,229. The firm has a market cap of $25.38 billion, a price-to-earnings ratio of 34.25 and a beta of 1.07. The business has a 50 day moving average price of $180.62 and a 200 day moving average price of $188.44. GoDaddy Inc. has a 1 year low of $135.73 and a 1 year 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.

GoDaddy (NYSE:GDDY - Get Free Report) last posted 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). The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The company's revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.76 EPS. Research analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current 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.