Balentine LLC Makes New $245,000 Investment in GoDaddy Inc. (NYSE:GDDY)

Balentine LLC purchased a new stake in GoDaddy Inc. (NYSE:GDDY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,306 shares of the technology company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in shares of GoDaddy by 140.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company’s stock valued at $37,000 after buying an additional 205 shares during the period. UMB Bank n.a. acquired a new stake in GoDaddy during the fourth quarter worth approximately $50,000. Tobam acquired a new stake in GoDaddy during the fourth quarter worth approximately $60,000. Fifth Third Bancorp acquired a new stake in GoDaddy during the third quarter worth approximately $43,000. Finally, Cary Street Partners Investment Advisory LLC acquired a new stake in GoDaddy during the third quarter worth approximately $44,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling

In related news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the transaction, the chief operating officer now directly owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the transaction, the chief operating officer now directly owns 208,632 shares of the company’s stock, valued at approximately $23,806,997.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the transaction, the chief financial officer now directly owns 116,328 shares in the company, valued at $14,055,912.24. The disclosure for this sale can be found here. Insiders have sold 129,292 shares of company stock worth $14,567,860 in the last 90 days. Insiders own 0.54% of the company’s stock.

GoDaddy Stock Down 0.6 %

Shares of NYSE:GDDY opened at $138.50 on Friday. GoDaddy Inc. has a 1 year low of $69.18 and a 1 year high of $140.00. The company has a market cap of $19.76 billion, a PE ratio of 11.50 and a beta of 1.09. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. The stock’s 50-day moving average is $125.41 and its 200 day moving average is $112.07.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Sell-side analysts anticipate that GoDaddy Inc. will post 4.81 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. B. Riley raised their target price on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. Piper Sandler increased their price target on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Evercore ISI increased their price target on GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Finally, Morgan Stanley increased their price target on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.00.

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.