Carolina Wealth Advisors LLC Buys New Position in GoDaddy Inc. (NYSE:GDDY)

Carolina Wealth Advisors LLC purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 310 shares of the technology company’s stock, valued at approximately $49,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after purchasing an additional 379,228 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after buying an additional 235,934 shares in the last quarter. Finally, Fiera Capital Corp lifted its holdings in GoDaddy by 1.6% during the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after buying an additional 13,206 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GDDY traded down $0.69 during trading on Monday, reaching $164.01. The company’s stock had a trading volume of 419,675 shares, compared to its average volume of 1,481,549. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 13.67 and a beta of 1.12. The company’s fifty day moving average price is $159.14 and its 200-day moving average price is $144.78. GoDaddy Inc. has a 52-week low of $71.15 and a 52-week high of $167.65. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts forecast that GoDaddy Inc. will post 5.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the topic of several recent analyst reports. Robert W. Baird increased their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Raymond James upped their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $186.00 target price on shares of GoDaddy in a report on Tuesday, October 15th. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $172.00 price target (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.54.

Insider Activity

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The trade was a 0.00 % 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 this link. In other news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $585,920.00. Following the transaction, the chief operating officer now directly owns 188,632 shares of the company’s stock, valued at $27,630,815.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,744 shares of company stock worth $5,114,931. Company insiders own 0.61% of the company’s stock.

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.