Impact Partnership Wealth LLC Takes Position in GoDaddy Inc. (NYSE:GDDY)

Impact Partnership Wealth LLC bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 3,008 shares of the technology company's stock, valued at approximately $542,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sowell Financial Services LLC bought a new stake in shares of GoDaddy in the 1st quarter worth about $291,000. DAVENPORT & Co LLC raised its stake in shares of GoDaddy by 7.7% in the first quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company's stock valued at $354,000 after acquiring an additional 141 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of 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 acquiring an additional 12,328 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in GoDaddy by 13.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the technology company's stock worth $1,060,000 after acquiring an additional 699 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in GoDaddy by 113.6% during the 1st quarter. Blue Trust Inc. now owns 645 shares of the technology company's stock valued at $116,000 after purchasing an additional 343 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Price Performance

GoDaddy stock traded up $0.51 during mid-day trading on Friday, reaching $168.80. 1,272,037 shares of the company's stock traded hands, compared to its average volume of 1,344,198. GoDaddy Inc. has a 12-month low of $140.11 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 stock has a 50 day moving average of $178.96 and a two-hundred day moving average of $183.72. The company has a market cap of $24.05 billion, a price-to-earnings ratio of 32.46 and a beta of 1.05.

GoDaddy (NYSE:GDDY - Get Free Report) last released 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). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.76 earnings per share. Equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,000 shares of GoDaddy stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $176.93, for a total value of $1,061,580.00. Following the transaction, the chief executive officer directly owned 425,015 shares in the company, valued at approximately $75,197,903.95. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Phontip Palitwanon sold 2,173 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total value of $386,511.51. Following the sale, the chief accounting officer directly owned 21,198 shares of the company's stock, valued at approximately $3,770,488.26. This represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,757 shares of company stock worth $12,243,920. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of recent research reports. Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Barclays cut their price target 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. Royal Bank Of Canada restated an "outperform" rating and set a $225.00 price objective on shares of GoDaddy in a report on Monday, June 23rd. Finally, Piper Sandler lifted their price target 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. Seven equities 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

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.