Western Pacific Wealth Management LP Invests $98,000 in GoDaddy Inc. (NYSE:GDDY)

Western Pacific Wealth Management LP purchased a new stake in GoDaddy Inc. (NYSE:GDDY) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 622 shares of the technology company’s stock, valued at approximately $98,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GDDY. ORG Wealth Partners LLC acquired a new position in GoDaddy during the third quarter worth about $30,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy in the 2nd quarter worth approximately $28,000. ORG Partners LLC purchased a new position in GoDaddy in the 2nd quarter valued at approximately $32,000. International Assets Investment Management LLC acquired a new position in GoDaddy during the second quarter worth $36,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in GoDaddy during the third quarter worth $49,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 345,956 shares in the company, valued at $58,047,957.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the sale, the chief operating officer now directly owns 186,632 shares in the company, valued at $30,637,509.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Friday, November 1st. The shares were 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 directly owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,344 shares of company stock valued at $4,529,897. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Barclays raised their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. B. Riley upped their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Raymond James lifted their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Stock Up 0.8 %

Shares of NYSE:GDDY opened at $177.25 on Friday. GoDaddy Inc. has a 12-month low of $86.11 and a 12-month high of $177.77. The stock’s 50-day moving average price is $159.75 and its two-hundred day moving average price is $148.49. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a market cap of $24.99 billion, a price-to-earnings ratio of 13.70 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share. On average, research analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current year.

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.