New Century Financial Group LLC Sells 59 Shares of GoDaddy Inc. (NYSE:GDDY)

New Century Financial Group LLC trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 2.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,049 shares of the technology company’s stock after selling 59 shares during the quarter. New Century Financial Group LLC’s holdings in GoDaddy were worth $411,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of GoDaddy during the 3rd quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy during the third quarter worth $30,000. Anchor Investment Management LLC bought a new stake in GoDaddy in the third quarter valued at about $31,000. Versant Capital Management Inc acquired a new position in GoDaddy in the fourth quarter valued at about $43,000. Finally, Friedenthal Financial bought a new position in GoDaddy during the fourth quarter worth about $49,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 480 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $201.29, for a total transaction of $96,619.20. Following the transaction, the chief financial officer now directly owns 83,254 shares in the company, valued at approximately $16,758,197.66. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,483 shares of company stock worth $4,759,553 in the last three months. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup upped their price target on GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.07.

GoDaddy Stock Up 0.1 %

Shares of GoDaddy stock opened at $207.44 on Friday. GoDaddy Inc. has a 52-week low of $106.42 and a 52-week high of $211.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50 day simple moving average is $200.75 and its 200 day simple moving average is $173.12. The firm has a market cap of $29.12 billion, a PE ratio of 16.03 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. On average, analysts predict that GoDaddy Inc. will post 4.96 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.