MBL Wealth LLC Makes New Investment in GoDaddy Inc. $GDDY

Key Points

• MBL Wealth LLC purchased 9,022 GoDaddy shares during the third quarter, valued at approximately $862,000. Institutional investors collectively own 90.28% of the company.
• Analyst sentiment is mixed, with nine Buy, nine Hold, and one Sell rating; GoDaddy has a consensus rating of Hold and an average price target of $111.
• GoDaddy exceeded quarterly earnings expectations, reporting $1.83 EPS versus the $1.69 consensus and $1.30 billion in revenue, up 6.6% year over year. Insiders have sold 31,358 shares worth about $3.03 million over the past 90 days, primarily to cover tax obligations.

MBL Wealth LLC purchased a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,022 shares of the technology company's stock, valued at approximately $862,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in shares of GoDaddy by 93.8% during the 1st quarter. International Assets Investment Management LLC now owns 372 shares of the technology company's stock worth $30,000 after purchasing an additional 180 shares during the period. Acuitas Investments LLC bought a new stake in shares of GoDaddy in the first quarter valued at about $33,000. Perkins Coie Trust Co bought a new stake in shares of GoDaddy in the second quarter valued at about $34,000. Albion Financial Group UT bought a new stake in shares of GoDaddy in the third quarter valued at about $39,000. Finally, Elevation Wealth Partners LLC lifted its stake in shares of GoDaddy by 109.3% in the third quarter. Elevation Wealth Partners LLC now owns 473 shares of the technology company's stock valued at $45,000 after buying an additional 247 shares during the period. Institutional investors own 90.28% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. B. Riley Financial decreased their target price on GoDaddy from $190.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Wedbush cut their price target on GoDaddy from $109.00 to $93.00 and set an "outperform" rating for the company in a report on Monday, August 3rd. Piper Sandler reiterated a "neutral" rating and issued a $95.00 price objective (up from $93.00) on shares of GoDaddy in a research report on Friday, July 31st. Benchmark reduced their price objective on GoDaddy from $185.00 to $140.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Finally, Robert W. Baird lifted their price objective on GoDaddy from $110.00 to $120.00 and gave the stock an "outperform" rating in a report on Friday, September 25th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $111.00.

Insider Activity at GoDaddy

In other news, CFO Mark McCaffrey sold 5,873 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $100.91, for a total value of $592,644.43. Following the sale, the chief financial officer directly owned 99,855 shares in the company, valued at approximately $10,076,368.05. This represents a 5.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Phontip Palitwanon sold 530 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $101.19, for a total value of $53,630.70. Following the completion of the transaction, the chief accounting officer directly owned 17,204 shares of the company's stock, valued at approximately $1,740,872.76. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 31,358 shares of company stock valued at $3,031,831. Corporate insiders own 0.93% of the company's stock.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $112.64 on Friday. The company has a debt-to-equity ratio of 561.10, a quick ratio of 0.63 and a current ratio of 0.63. The firm's 50-day simple moving average is $100.20 and its 200-day simple moving average is $91.63. GoDaddy Inc. has a twelve month low of $71.59 and a twelve month high of $137.93. The firm has a market cap of $14.27 billion, a P/E ratio of 16.71 and a beta of 0.94.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The technology company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.14. GoDaddy had a net margin of 17.83% and a return on equity of 660.96%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. The company's quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts expect that GoDaddy Inc. will post 7.24 EPS for the current fiscal year.

GoDaddy Company Profile

GoDaddy Inc NYSE: GDDY is a global technology company that provides online tools and services to entrepreneurs, small businesses and individuals. Its platform helps customers establish, manage and grow an online presence, with offerings that include domain-name registration, website hosting, website and online-store builders, professional email and digital marketing tools.

The company also provides services designed to support commerce and customer engagement, including e-commerce functionality, online appointment scheduling, payments and other business-management capabilities.

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