Gallacher Capital Management LLC Takes $265,000 Position in GoDaddy Inc. (NYSE:GDDY)

Gallacher Capital Management LLC acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,341 shares of the technology company’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Anchor Investment Management LLC acquired a new position in shares of GoDaddy in the 3rd quarter valued at about $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy in the fourth quarter worth approximately $43,000. Rakuten Securities Inc. grew its holdings in shares of GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after acquiring an additional 165 shares in the last quarter. Huntington National Bank grew its holdings in shares of GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after acquiring an additional 230 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of GoDaddy in the fourth quarter valued at approximately $49,000. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price on the stock. StockNews.com downgraded GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Piper Sandler lifted their price objective on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group lifted their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $213.20.

Insider Buying and Selling at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the sale, the director now directly owns 22,621 shares in the company, valued at approximately $4,698,381.70. The trade was a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $597,030.00. Following the transaction, the chief executive officer now directly owns 333,153 shares in the company, valued at approximately $66,300,778.53. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,480 shares of company stock worth $3,641,819. 0.61% of the stock is owned by corporate insiders.

GoDaddy Trading Up 2.1 %

NYSE GDDY opened at $176.06 on Monday. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm’s fifty day moving average price is $192.98 and its 200 day moving average price is $182.72. The company has a market capitalization of $24.89 billion, a price-to-earnings ratio of 27.30 and a beta of 1.25. GoDaddy Inc. has a 12 month low of $117.33 and a 12 month high of $216.00.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.01). 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 $1.18 billion. On average, sell-side analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

GoDaddy 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.