Mount Yale Investment Advisors LLC Raises Holdings in GoDaddy Inc. (NYSE:GDDY)

Mount Yale Investment Advisors LLC increased its position in GoDaddy Inc. (NYSE:GDDY) by 205.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,626 shares of the technology company’s stock after purchasing an additional 3,783 shares during the period. Mount Yale Investment Advisors LLC’s holdings in GoDaddy were worth $1,110,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes 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 stake in GoDaddy during the 3rd quarter worth $30,000. Anchor Investment Management LLC purchased a new position in GoDaddy during the 3rd quarter worth $31,000. Versant Capital Management Inc acquired a new position in GoDaddy in the fourth quarter valued at $43,000. Finally, Friedenthal Financial purchased a new stake in shares of GoDaddy in the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Piper Sandler increased their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Citigroup lifted their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Morgan Stanley raised their target price on shares of GoDaddy from $189.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Robert W. Baird boosted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $198.07.

GoDaddy Stock Performance

Shares of GDDY stock opened at $204.73 on Tuesday. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. 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 1 year low of $106.42 and a 1 year high of $211.11. The stock has a fifty day moving average price of $200.75 and a 200 day moving average price of $173.54.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm earned $0.89 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current fiscal year.

Insider Activity

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

GoDaddy 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.