Congress Wealth Management LLC DE Invests $13.63 Million in GoDaddy Inc. (NYSE:GDDY)

Congress Wealth Management LLC DE acquired a new stake in GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, Holdings Channel reports. The firm acquired 69,046 shares of the technology company’s stock, valued at approximately $13,628,000.

Several other institutional investors have also modified their holdings of GDDY. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of GoDaddy during the 3rd quarter worth about $472,000. PNC Financial Services Group Inc. boosted its stake in GoDaddy by 18.6% in the third quarter. PNC Financial Services Group Inc. now owns 6,285 shares of the technology company’s stock valued at $985,000 after acquiring an additional 986 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of GoDaddy by 5.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 39,785 shares of the technology company’s stock worth $6,237,000 after purchasing an additional 2,124 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of GoDaddy by 26.5% in the 3rd quarter. Citigroup Inc. now owns 195,228 shares of the technology company’s stock valued at $30,608,000 after purchasing an additional 40,874 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of GoDaddy by 18.9% in the 3rd quarter. Cerity Partners LLC now owns 17,672 shares of the technology company’s stock valued at $2,771,000 after purchasing an additional 2,803 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GDDY shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Barclays upped their price objective on GoDaddy from $235.00 to $243.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Benchmark boosted their price target on shares of GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley raised their price objective on shares of GoDaddy from $227.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Seven research 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 stock. According to data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and an average price target of $213.20.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $99,505.00. Following the transaction, the director now directly owns 23,121 shares in the company, valued at approximately $4,601,310.21. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total transaction of $597,030.00. Following the completion of the sale, the chief executive officer now directly owns 333,153 shares in the company, valued at $66,300,778.53. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,480 shares of company stock worth $3,816,029 in the last ninety days. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 1.8 %

GoDaddy stock opened at $183.65 on Tuesday. The firm has a market capitalization of $25.96 billion, a price-to-earnings ratio of 28.47 and a beta of 1.25. 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 fifty-two week low of $118.39 and a fifty-two week high of $216.00. The stock’s fifty day moving average is $191.17 and its two-hundred day moving average is $183.53.

GoDaddy (NYSE:GDDY) last posted 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 business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Analysts predict that GoDaddy Inc. will post 6.63 EPS 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.