New Age Alpha Advisors LLC Increases Stake in GoDaddy Inc. $GDDY

New Age Alpha Advisors LLC grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 5,448.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,804 shares of the technology company’s stock after buying an additional 21,411 shares during the period. New Age Alpha Advisors LLC’s holdings in GoDaddy were worth $2,705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in GoDaddy by 0.8% during the third quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company’s stock worth $2,587,754,000 after purchasing an additional 150,045 shares during the period. WCM Investment Management LLC boosted its holdings in shares of GoDaddy by 1.8% in the third quarter. WCM Investment Management LLC now owns 3,736,821 shares of the technology company’s stock worth $529,395,000 after acquiring an additional 66,144 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of GoDaddy by 47.0% in the third quarter. Ameriprise Financial Inc. now owns 3,532,548 shares of the technology company’s stock worth $483,360,000 after acquiring an additional 1,128,646 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of GoDaddy by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 2,896,867 shares of the technology company’s stock worth $396,378,000 after acquiring an additional 53,811 shares during the period. Finally, Two Sigma Investments LP boosted its holdings in shares of GoDaddy by 99.7% in the third quarter. Two Sigma Investments LP now owns 1,631,100 shares of the technology company’s stock worth $223,183,000 after acquiring an additional 814,360 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Phontip Palitwanon sold 1,310 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total transaction of $118,096.50. Following the completion of the transaction, the chief accounting officer directly owned 20,349 shares in the company, valued at $1,834,462.35. The trade was a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $3,038,830.52. Following the transaction, the chief executive officer owned 530,120 shares of the company’s stock, valued at approximately $47,175,378.80. The trade was a 6.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 61,946 shares of company stock valued at $5,502,965 in the last ninety days. Corporate insiders own 0.93% of the company’s stock.

GoDaddy Price Performance

GoDaddy stock opened at $88.76 on Wednesday. GoDaddy Inc. has a 52 week low of $73.06 and a 52 week high of $184.71. The business has a 50-day simple moving average of $85.12 and a 200 day simple moving average of $101.89. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.81 and a beta of 0.92.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business earned $1.51 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, research analysts forecast that GoDaddy Inc. will post 7.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GDDY. Piper Sandler began coverage on GoDaddy in a report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price target for the company. Royal Bank Of Canada cut their price target on GoDaddy from $200.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. UBS Group began coverage on GoDaddy in a report on Tuesday, May 5th. They issued a “neutral” rating and a $100.00 price target for the company. Barclays cut their price target on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Finally, Jefferies Financial Group cut their price target on GoDaddy from $140.00 to $100.00 and set a “hold” rating for the company in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.57.

GoDaddy Profile

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.