TD Private Client Wealth LLC Grows Stock Position in GoDaddy Inc. (NYSE:GDDY)

TD Private Client Wealth LLC raised its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 5.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 8,631 shares of the technology company’s stock after buying an additional 434 shares during the period. TD Private Client Wealth LLC’s holdings in GoDaddy were worth $1,704,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GDDY. Anchor Investment Management LLC purchased a new position in shares of GoDaddy during the 3rd quarter valued at about $31,000. Versant Capital Management Inc purchased a new position in shares of GoDaddy in the 4th quarter valued at about $43,000. Rakuten Securities Inc. increased its stake in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after purchasing an additional 165 shares in the last quarter. Friedenthal Financial purchased a new position in shares of GoDaddy in the 4th quarter valued at about $49,000. Finally, OFI Invest Asset Management purchased a new position in shares of GoDaddy in the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $623,100.00. Following the transaction, the chief executive officer now directly owns 330,153 shares in the company, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian Sharples sold 500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $99,505.00. Following the completion of the transaction, the director now owns 23,121 shares in the company, valued at $4,601,310.21. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,480 shares of company stock worth $3,816,029. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GDDY shares. Barclays lifted their price target on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Benchmark lifted their price target on GoDaddy from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. UBS Group lifted their price objective on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. JPMorgan Chase & Co. lifted their price objective on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, 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. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $213.20.

GoDaddy Trading Down 0.1 %

Shares of GoDaddy stock opened at $180.49 on Friday. The stock has a market cap of $25.51 billion, a P/E ratio of 27.98 and a beta of 1.25. The stock’s 50 day simple moving average is $191.37 and its 200-day simple moving average is $183.14. GoDaddy Inc. has a 1-year low of $118.39 and a 1-year high of $216.00. 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 (NYSE:GDDY) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. Analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

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.