Retireful LLC Invests $1.12 Million in GoDaddy Inc. (NYSE:GDDY)

Retireful LLC purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,272 shares of the technology company's stock, valued at approximately $1,122,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Proficio Capital Partners LLC acquired a new stake in shares of GoDaddy in the fourth quarter worth approximately $25,554,000. Jones Financial Companies Lllp boosted its stake in GoDaddy by 68.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company's stock worth $243,000 after purchasing an additional 499 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of GoDaddy by 16.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 678 shares of the technology company's stock worth $134,000 after buying an additional 98 shares in the last quarter. LPL Financial LLC grew its holdings in shares of GoDaddy by 22.9% during the fourth quarter. LPL Financial LLC now owns 66,109 shares of the technology company's stock worth $13,048,000 after buying an additional 12,328 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of GoDaddy in the fourth quarter valued at about $220,000. Hedge funds and other institutional investors own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GDDY. Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. UBS Group upped their price target on GoDaddy from $172.00 to $225.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Barclays cut their price target on GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Morgan Stanley lowered their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada cut their target price on GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Seven 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 stock. According to data from MarketBeat, GoDaddy has a consensus rating of "Moderate Buy" and an average target price of $214.86.

Insiders Place Their Bets

In other news, CAO Phontip Palitwanon sold 684 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total value of $122,990.04. Following the sale, the chief accounting officer now directly owns 23,371 shares in the company, valued at approximately $4,202,339.51. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total value of $1,246,442.92. Following the sale, the chief executive officer now owns 431,015 shares in the company, valued at approximately $77,500,807.15. This trade represents a 1.58% 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 worth $12,214,374 in the last ninety days. 0.61% of the stock is owned by corporate insiders.

GoDaddy Trading Up 1.4%

Shares of GoDaddy stock traded up $2.54 on Friday, reaching $182.93. The company had a trading volume of 1,316,634 shares, compared to its average volume of 1,479,877. The firm's 50 day moving average price is $179.34 and its two-hundred day moving average price is $189.41. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. GoDaddy Inc. has a 52-week low of $135.73 and a 52-week high of $216.00. The firm has a market cap of $26.07 billion, a PE ratio of 28.36 and a beta of 1.13.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the previous year, the firm earned $2.76 EPS. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side 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.