Impact Partnership Wealth LLC Acquires Shares of 7,906 GoDaddy Inc. $GDDY

Impact Partnership Wealth LLC acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 7,906 shares of the technology company’s stock, valued at approximately $654,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GDDY. Sivia Capital Partners LLC increased its holdings in GoDaddy by 90.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after purchasing an additional 1,552 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of GoDaddy by 50.0% in the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock valued at $4,896,000 after purchasing an additional 9,062 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of GoDaddy by 83.0% during the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock valued at $28,016,000 after buying an additional 70,585 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of GoDaddy during the second quarter valued at approximately $152,000. Finally, Main Street Financial Solutions LLC grew its holdings in GoDaddy by 1.0% during the second quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, Director Sigal Zarmi sold 350 shares of GoDaddy stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $87.84, for a total value of $30,744.00. Following the sale, the director owned 5,708 shares of the company’s stock, valued at approximately $501,390.72. The trade was a 5.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark Mccaffrey sold 3,958 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $355,665.88. Following the completion of the transaction, the chief financial officer owned 109,228 shares in the company, valued at approximately $9,815,228.08. The trade was a 3.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 16,751 shares of company stock valued at $1,480,228 in the last three months. Insiders own 0.93% of the company’s stock.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $86.86 on Thursday. The business’s fifty day simple moving average is $84.81 and its 200 day simple moving average is $93.41. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 12 month low of $71.59 and a 12 month high of $179.61. The firm has a market capitalization of $11.50 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 0.77 and a beta of 0.89.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm posted $1.51 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that GoDaddy Inc. will post 7.13 EPS for the current year.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on GoDaddy from $154.00 to $124.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. Piper Sandler began coverage on shares of GoDaddy in a report on Thursday, March 12th. They set a “neutral” rating and a $93.00 price objective on the stock. Benchmark reduced their target price on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. Wells Fargo & Company increased their target price on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of GoDaddy in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.43.

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.