Townsquare Capital LLC Buys 11,948 Shares of GoDaddy Inc. (NYSE:GDDY)

Townsquare Capital LLC grew its position in GoDaddy Inc. (NYSE:GDDY) by 84.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,033 shares of the technology company’s stock after purchasing an additional 11,948 shares during the quarter. Townsquare Capital LLC’s holdings in GoDaddy were worth $5,138,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in GoDaddy during the 4th quarter worth $25,554,000. CWA Asset Management Group LLC boosted its stake in GoDaddy by 29.2% during the 4th quarter. CWA Asset Management Group LLC now owns 16,071 shares of the technology company’s stock valued at $3,172,000 after purchasing an additional 3,631 shares during the period. Fiduciary Alliance LLC acquired a new stake in GoDaddy in the 4th quarter valued at approximately $1,045,000. Mount Yale Investment Advisors LLC increased its position in GoDaddy by 205.3% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 5,626 shares of the technology company’s stock worth $1,110,000 after acquiring an additional 3,783 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of 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 period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Price Performance

GoDaddy stock opened at $172.06 on Monday. The business’s fifty day moving average is $180.85 and its two-hundred day moving average is $185.53. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The firm has a market cap of $24.32 billion, a P/E ratio of 26.68 and a beta of 1.19. GoDaddy Inc. has a 52 week low of $119.76 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. Equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $989,175.00. Following the sale, the chief financial officer now directly owns 115,375 shares in the company, valued at $20,750,193.75. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 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 transaction of $623,100.00. Following the transaction, the chief executive officer now owns 330,153 shares of the company’s stock, valued at approximately $68,572,778.10. This represents a 0.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $3,546,970 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GDDY shares. B. Riley lifted their target price on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company assumed coverage on GoDaddy in a research report on Monday, February 3rd. They set an “equal weight” rating and a $198.00 price objective on the stock. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. UBS Group lifted their price target on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group dropped their price objective on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, April 7th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.20.

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.