Simplicity Solutions LLC Raises Stake in GoDaddy Inc. (NYSE:GDDY)

Simplicity Solutions LLC lifted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 5.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,636 shares of the technology company’s stock after purchasing an additional 812 shares during the quarter. Simplicity Solutions LLC’s holdings in GoDaddy were worth $1,766,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Ingalls & Snyder LLC grew its holdings in shares of GoDaddy by 0.3% during the 4th quarter. Ingalls & Snyder LLC now owns 41,923 shares of the technology company’s stock worth $4,451,000 after purchasing an additional 120 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of GoDaddy by 7.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,940 shares of the technology company’s stock worth $144,000 after purchasing an additional 137 shares during the period. Whittier Trust Co. grew its holdings in shares of GoDaddy by 9.1% during the 3rd quarter. Whittier Trust Co. now owns 1,683 shares of the technology company’s stock worth $125,000 after purchasing an additional 141 shares during the period. Quent Capital LLC grew its holdings in shares of GoDaddy by 30.8% during the 4th quarter. Quent Capital LLC now owns 637 shares of the technology company’s stock worth $68,000 after purchasing an additional 150 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of GoDaddy by 27.4% during the 4th quarter. Fifth Third Bancorp now owns 730 shares of the technology company’s stock worth $77,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total transaction of $75,397.92. Following the completion of the transaction, the chief financial officer now owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 8,687 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $991,273.57. Following the completion of the sale, the chief executive officer now directly owns 454,031 shares in the company, valued at approximately $51,809,477.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 624 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $120.83, for a total value of $75,397.92. Following the sale, the chief financial officer now owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,234 shares of company stock valued at $13,534,946. 0.54% of the stock is currently owned by corporate insiders.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $123.30 on Monday. GoDaddy Inc. has a twelve month low of $67.43 and a twelve month high of $127.15. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. The company has a market capitalization of $17.57 billion, a price-to-earnings ratio of 12.87 and a beta of 1.12. The business has a 50 day simple moving average of $116.54 and a 200-day simple moving average of $101.79.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. As a group, equities research analysts expect that GoDaddy Inc. will post 4.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GDDY shares. B. Riley boosted their target price on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Morgan Stanley boosted their price target on GoDaddy from $120.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. UBS Group boosted their price target on GoDaddy from $110.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Benchmark reissued a “buy” rating and set a $150.00 price target on shares of GoDaddy in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $135.18.

About GoDaddy

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.