Wealthfront Advisers LLC Raises Position in GoDaddy Inc. $GDDY

Wealthfront Advisers LLC grew its stake in GoDaddy Inc. (NYSE:GDDY) by 60.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,566 shares of the technology company’s stock after purchasing an additional 9,612 shares during the period. Wealthfront Advisers LLC’s holdings in GoDaddy were worth $3,498,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GDDY. Hemington Wealth Management lifted its position in GoDaddy by 85.9% in the third quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock worth $25,000 after buying an additional 85 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of GoDaddy by 14.0% in the second quarter. Penserra Capital Management LLC now owns 748 shares of the technology company’s stock valued at $134,000 after acquiring an additional 92 shares during the period. NewSquare Capital LLC lifted its holdings in shares of GoDaddy by 170.9% in the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock worth $27,000 after acquiring an additional 94 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of GoDaddy by 5.6% in the 2nd quarter. Coldstream Capital Management Inc. now owns 1,801 shares of the technology company’s stock worth $324,000 after acquiring an additional 96 shares during the last quarter. Finally, MAI Capital Management boosted its stake in shares of GoDaddy by 9.7% during the 2nd quarter. MAI Capital Management now owns 1,127 shares of the technology company’s stock worth $203,000 after purchasing an additional 100 shares during the period. Institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Up 0.9%

GDDY opened at $89.04 on Friday. The stock’s fifty day moving average is $112.40 and its two-hundred day moving average is $129.42. The company has a market capitalization of $12.03 billion, a P/E ratio of 15.38, a PEG ratio of 0.80 and a beta of 0.94. GoDaddy Inc. has a 52 week low of $88.11 and a 52 week high of $195.70. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 41.06.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GDDY. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. Benchmark reaffirmed a “buy” rating on shares of GoDaddy in a research note on Thursday, December 4th. Raymond James Financial reiterated a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. Royal Bank Of Canada set a $70.00 price objective on GoDaddy in a report on Wednesday, January 7th. Finally, Morgan Stanley cut their price objective on GoDaddy from $159.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $166.21.

Insider Activity

In related news, CFO Mark Mccaffrey sold 3,317 shares of GoDaddy stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total value of $424,376.98. Following the completion of the sale, the chief financial officer directly owned 66,816 shares in the company, valued at $8,548,439.04. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the transaction, the chief executive officer owned 399,133 shares in the company, valued at approximately $51,065,076.02. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 13,615 shares of company stock worth $1,743,102. Company insiders own 0.70% of the company’s stock.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.