LPL Financial LLC Purchases 17,680 Shares of GoDaddy Inc. (NYSE:GDDY)

LPL Financial LLC boosted its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 26.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,789 shares of the technology company's stock after acquiring an additional 17,680 shares during the quarter. LPL Financial LLC owned 0.06% of GoDaddy worth $15,094,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Advisors Capital Management LLC boosted its position in GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock valued at $1,223,000 after purchasing an additional 55 shares during the last quarter. BNP Paribas lifted its holdings in shares of GoDaddy by 2.9% during the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company's stock valued at $417,000 after buying an additional 59 shares during the last quarter. City Holding Co. lifted its holdings in shares of GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after buying an additional 60 shares during the last quarter. Equitable Trust Co. grew its stake in shares of GoDaddy by 1.0% in the 1st quarter. Equitable Trust Co. now owns 6,657 shares of the technology company's stock valued at $1,199,000 after buying an additional 64 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its position in GoDaddy by 0.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock worth $1,435,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Stock Performance

Shares of NYSE GDDY traded down $16.87 during trading hours on Friday, reaching $133.38. The stock had a trading volume of 5,238,112 shares, compared to its average volume of 1,535,357. The company has a market cap of $19.01 billion, a price-to-earnings ratio of 25.65 and a beta of 1.08. GoDaddy Inc. has a twelve month low of $132.73 and a twelve month high of $216.00. The business's fifty day moving average is $171.43 and its two-hundred day moving average is $179.84. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY - Get Free Report) last issued 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 16.20% and a return on equity of 211.09%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm's revenue was up 8.3% on a year-over-year basis. As a group, research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup decreased their target price on GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research report on Friday. Raymond James Financial lowered their target price on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research note on Friday. Benchmark reiterated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Wells Fargo & Company decreased their price target on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a report on Friday. Finally, Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, GoDaddy currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

Insider Buying and Selling

In other news, CFO Mark Mccaffrey sold 3,317 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total value of $596,429.77. Following the sale, the chief financial officer owned 74,084 shares of the company's stock, valued at approximately $13,321,044.04. This represents a 4.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $188.21, for a total transaction of $188,210.00. Following the sale, the chief operating officer directly owned 255,949 shares of the company's stock, valued at approximately $48,172,161.29. The trade was a 0.39% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,257 shares of company stock valued at $5,827,280. 0.61% of the stock is owned by insiders.

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.