SRS Capital Advisors Inc. Reduces Stake in GoDaddy Inc. (NYSE:GDDY)

SRS Capital Advisors Inc. cut its position in shares of GoDaddy Inc. (NYSE:GDDY) by 35.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 708 shares of the technology company’s stock after selling 394 shares during the quarter. SRS Capital Advisors Inc.’s holdings in GoDaddy were worth $140,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth $27,000. Anchor Investment Management LLC purchased a new position in GoDaddy during the 3rd quarter valued at about $31,000. Versant Capital Management Inc acquired a new position in GoDaddy during the fourth quarter worth about $43,000. Huntington National Bank lifted its holdings in shares of GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after purchasing an additional 230 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $49,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Down 0.1 %

Shares of GDDY opened at $176.29 on Thursday. GoDaddy Inc. has a fifty-two week low of $109.16 and a fifty-two week high of $216.00. The company’s fifty day moving average is $196.74 and its two-hundred day moving average is $182.11. The firm has a market cap of $24.92 billion, a PE ratio of 27.33 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. Analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity

In other news, CFO Mark Mccaffrey sold 480 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $201.29, for a total value of $96,619.20. Following the transaction, the chief financial officer now owns 83,254 shares of the company’s stock, valued at approximately $16,758,197.66. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $99,505.00. Following the transaction, the director now owns 23,121 shares in the company, valued at $4,601,310.21. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,034 shares of company stock valued at $4,166,030 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Jefferies Financial Group lifted their price objective on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Benchmark boosted their price target on GoDaddy from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Piper Sandler upped their price objective on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Barclays lifted their price objective on GoDaddy from $235.00 to $243.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, StockNews.com lowered shares of GoDaddy from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Seven investment 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $213.20.

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.