New Age Alpha Advisors LLC Lowers Stock Position in GoDaddy Inc. (NYSE:GDDY)

Key Points

• New Age Alpha Advisors LLC significantly reduced its holdings in GoDaddy Inc. by 87.4% during Q1, ending with just 1,284 shares valued at $231,000.
• Several other institutional investors, including Cornerstone Planning Group LLC and Private Trust Co. NA, have increased their stakes in GoDaddy, highlighting ongoing interest among other funds.
• GoDaddy's recent quarterly earnings report showed a net revenue increase of 8.3% year-over-year, with EPS of $1.41 surpassing analysts' expectations by $0.07.

New Age Alpha Advisors LLC lowered its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 87.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,284 shares of the technology company's stock after selling 8,898 shares during the quarter. New Age Alpha Advisors LLC's holdings in GoDaddy were worth $231,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Cornerstone Planning Group LLC increased its holdings in shares of GoDaddy by 123.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after buying an additional 79 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of GoDaddy in the 1st quarter worth about $27,000. Private Trust Co. NA increased its holdings in shares of GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock worth $29,000 after buying an additional 136 shares during the last quarter. GW&K Investment Management LLC increased its holdings in shares of GoDaddy by 307.9% in the 1st quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock worth $46,000 after buying an additional 194 shares during the last quarter. Finally, City Holding Co. increased its holdings in shares of GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

Insider Transactions at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,173 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the sale, the chief accounting officer owned 21,198 shares of the company's stock, valued at approximately $3,770,488.26. This represents a 9.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total transaction of $169,590.00. Following the completion of the sale, the chief operating officer directly owned 253,949 shares of the company's stock, valued at $43,067,210.91. The trade was a 0.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,257 shares of company stock worth $5,827,280. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GDDY shares. Piper Sandler set a $182.00 price target on shares of GoDaddy and gave the company an "overweight" rating in a report on Friday. Morgan Stanley cut their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Barclays cut their price target on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Raymond James Financial cut their price target on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a report on Friday. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, GoDaddy has an average rating of "Moderate Buy" and an average target price of $202.43.

GoDaddy Trading Up 3.4%

GDDY stock traded up $4.61 during mid-day trading on Tuesday, reaching $140.38. The company had a trading volume of 3,411,692 shares, compared to its average volume of 2,062,130. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.64 and a quick ratio of 0.56. The company has a market capitalization of $20.00 billion, a PE ratio of 25.07 and a beta of 1.08. The firm has a 50 day moving average of $169.68 and a 200 day moving average of $178.71. GoDaddy Inc. has a 12 month low of $132.51 and a 12 month high of $216.00.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. On average, equities analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal 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.