New Age Alpha Advisors LLC Purchases 21,411 Shares of GoDaddy Inc. $GDDY

Key Points

• New Age Alpha Advisors LLC boosted its GoDaddy stake by 5,448.1% in the fourth quarter, ending with 21,804 shares valued at about $2.7 million.
• Several other institutional investors also increased or initiated positions, and institutions now own 90.28% of GoDaddy’s stock.
• GoDaddy’s latest quarterly results beat expectations, with $1.60 EPS and $1.27 billion in revenue, while analysts’ average rating remains Moderate Buy with a target price of $120.57.

New Age Alpha Advisors LLC increased its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 5,448.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,804 shares of the technology company's stock after acquiring an additional 21,411 shares during the period. New Age Alpha Advisors LLC's holdings in GoDaddy were worth $2,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Swedbank AB grew its position in GoDaddy by 433.9% during the 4th quarter. Swedbank AB now owns 645,754 shares of the technology company's stock worth $80,125,000 after acquiring an additional 524,811 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in GoDaddy during the 4th quarter worth $223,000. MQS Management LLC grew its position in GoDaddy by 15.2% during the 4th quarter. MQS Management LLC now owns 1,760 shares of the technology company's stock worth $218,000 after acquiring an additional 232 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in GoDaddy by 208.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,214 shares of the technology company's stock worth $275,000 after acquiring an additional 1,497 shares during the last quarter. Finally, Legato Capital Management LLC bought a new position in GoDaddy during the 4th quarter worth $319,000. Institutional investors own 90.28% of the company's stock.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 17,406 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $1,548,959.94. Following the completion of the transaction, the chief financial officer directly owned 113,003 shares of the company's stock, valued at $10,056,136.97. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 1,310 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $90.15, for a total value of $118,096.50. Following the completion of the transaction, the chief accounting officer directly owned 20,349 shares of the company's stock, valued at approximately $1,834,462.35. This represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 61,946 shares of company stock valued at $5,502,965. Insiders own 0.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GDDY. UBS Group assumed coverage on GoDaddy in a report on Tuesday, May 5th. They set a "neutral" rating and a $100.00 target price on the stock. Wells Fargo & Company raised their price objective on GoDaddy from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Citigroup cut their price objective on GoDaddy from $195.00 to $110.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Cantor Fitzgerald reduced their target price on GoDaddy from $130.00 to $90.00 and set a "neutral" rating on the stock in a report on Wednesday, February 25th. Finally, Barclays reduced their target price on GoDaddy from $200.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $120.57.

GoDaddy Trading Down 1.9%

NYSE:GDDY opened at $88.76 on Wednesday. The firm's fifty day moving average is $85.12 and its 200-day moving average is $101.89. The company has a debt-to-equity ratio of 15.86, a quick ratio of 0.67 and a current ratio of 0.67. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $184.71. The firm has a market cap of $11.75 billion, a P/E ratio of 14.04, a P/E/G ratio of 0.81 and a beta of 0.92.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.07. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.51 EPS. Equities analysts expect that GoDaddy Inc. will post 7.17 earnings per share for the current year.

GoDaddy Company Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company's core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.

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