Sowell Financial Services LLC Takes $291,000 Position in GoDaddy Inc. (NYSE:GDDY)

Sowell Financial Services LLC acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,618 shares of the technology company's stock, valued at approximately $291,000.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in GoDaddy by 11.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock worth $751,778,000 after acquiring an additional 395,160 shares in the last quarter. Geode Capital Management LLC increased its position in GoDaddy by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock valued at $692,245,000 after purchasing an additional 90,810 shares during the period. Invesco Ltd. increased its position in GoDaddy by 11.6% during the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock valued at $575,122,000 after purchasing an additional 304,033 shares during the period. Norges Bank acquired a new stake in GoDaddy during the 4th quarter valued at approximately $356,038,000. Finally, Northern Trust Corp increased its position in GoDaddy by 8.8% during the 4th quarter. Northern Trust Corp now owns 1,430,180 shares of the technology company's stock valued at $282,275,000 after purchasing an additional 115,341 shares during the period. Institutional investors own 90.28% of the company's stock.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 684 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction 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 trade represents a 2.84% decrease in their position. 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 3,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $539,550.00. Following the transaction, the chief executive officer now owns 443,947 shares in the company, valued at approximately $79,843,867.95. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,632 shares of company stock worth $12,602,635. Corporate insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley cut their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Citigroup cut their price target on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. increased their price target on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Benchmark restated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Finally, Royal Bank Of Canada cut their price target on GoDaddy from $230.00 to $225.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $214.86.

GoDaddy Stock Down 1.0%

Shares of GDDY traded down $1.72 during trading hours on Friday, reaching $174.70. The stock had a trading volume of 2,132,892 shares, compared to its average volume of 1,352,094. GoDaddy Inc. has a 12 month low of $136.75 and a 12 month high of $216.00. The firm has a 50-day simple moving average of $180.84 and a 200 day simple moving average of $187.76. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The company has a market capitalization of $24.89 billion, a price-to-earnings ratio of 33.60 and a beta of 1.07.

GoDaddy (NYSE:GDDY - Get Free Report) last issued 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 return on equity of 211.09% and a net margin of 16.20%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business earned $2.76 earnings per share. GoDaddy's revenue for the quarter was up 8.6% on a year-over-year basis. Equities research 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.