Portside Wealth Group LLC Takes Position in GoDaddy Inc. (NYSE:GDDY)

Portside Wealth Group LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,889 shares of the technology company's stock, valued at approximately $373,000.

Several other institutional investors have also modified their holdings of the company. Quent Capital LLC lifted its holdings in shares of GoDaddy by 4.4% in the fourth quarter. Quent Capital LLC now owns 1,259 shares of the technology company's stock valued at $248,000 after buying an additional 53 shares during the period. Advisors Capital Management LLC lifted its holdings in shares of 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 fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock valued at $417,000 after purchasing an additional 59 shares during the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of GoDaddy by 4.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 1,433 shares of the technology company's stock valued at $283,000 after purchasing an additional 64 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its holdings in shares of GoDaddy by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 18,785 shares of the technology company's stock valued at $3,708,000 after purchasing an additional 71 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Performance

Shares of GDDY stock opened at $180.27 on Friday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a fifty-two week low of $135.73 and a fifty-two week high of $216.00. The stock's 50-day moving average is $179.34 and its two-hundred day moving average is $189.41. The firm has a market cap of $25.69 billion, a P/E ratio of 27.95 and a beta of 1.13.

GoDaddy (NYSE:GDDY - Get Free Report) last issued 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). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $2.76 earnings per share. The business's revenue for the quarter was up 8.6% on a year-over-year basis. Analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GDDY has been the subject of several analyst reports. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Piper Sandler upped their target price on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Jefferies Financial Group reduced their target price on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a report on Monday, April 7th. Citigroup reduced their target price on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their target price on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, GoDaddy currently has a consensus rating of "Moderate Buy" and an average target price of $214.86.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total transaction of $171,750.00. Following the transaction, the chief operating officer now owns 256,949 shares of the company's stock, valued at approximately $44,130,990.75. This represents a 0.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Phontip Palitwanon sold 684 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total value of $122,990.04. Following the transaction, the chief accounting officer now directly owns 23,371 shares in the company, valued at approximately $4,202,339.51. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,459 shares of company stock valued at $12,214,374 in the last three months. Insiders own 0.61% of the company's stock.

GoDaddy Company 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.

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