Hutchens & Kramer Investment Management Group LLC Takes $222,000 Position in GoDaddy Inc. (NYSE:GDDY)

Hutchens & Kramer Investment Management Group LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,127 shares of the technology company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of GoDaddy in the third quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new position in GoDaddy during the third quarter worth $30,000. Anchor Investment Management LLC acquired a new position in GoDaddy during the third quarter worth $31,000. Versant Capital Management Inc acquired a new position in GoDaddy during the fourth quarter worth $43,000. Finally, Huntington National Bank increased its holdings in GoDaddy by 298.7% during the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after buying an additional 230 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GDDY shares. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Robert W. Baird boosted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Raymond James boosted their target price on shares of GoDaddy from $185.00 to $230.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Piper Sandler boosted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Morgan Stanley lifted their price objective on shares of GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $198.07.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the transaction, the chief executive officer now owns 345,956 shares of the company’s stock, valued at $58,047,957.24. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,483 shares of company stock valued at $4,759,553. 0.61% of the stock is owned by company insiders.

GoDaddy Trading Down 1.2 %

Shares of GoDaddy stock opened at $204.73 on Tuesday. The firm has a 50-day moving average of $200.75 and a 200-day moving average of $173.54. The stock has a market cap of $28.74 billion, a PE ratio of 15.82 and a beta of 1.15. GoDaddy Inc. has a 52-week low of $106.42 and a 52-week high of $211.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 earnings per share. As a group, sell-side analysts forecast that GoDaddy Inc. will post 4.96 EPS for the current year.

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.