CWA Asset Management Group LLC Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

CWA Asset Management Group LLC bought a new position in GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 12,440 shares of the technology company’s stock, valued at approximately $1,950,000.

Several other hedge funds have also recently made changes to their positions in GDDY. Transcendent Capital Group LLC bought a new position in GoDaddy during the second quarter valued at $28,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy during the 3rd quarter worth about $30,000. ORG Partners LLC purchased a new position in shares of GoDaddy during the 2nd quarter worth about $32,000. International Assets Investment Management LLC purchased a new stake in GoDaddy in the 2nd quarter worth about $36,000. Finally, New Covenant Trust Company N.A. purchased a new stake in GoDaddy in the 1st quarter worth about $45,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

GDDY opened at $177.84 on Friday. The firm has a market capitalization of $24.97 billion, a PE ratio of 13.74 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50-day moving average is $159.96 and its two-hundred day moving average is $149.06. GoDaddy Inc. has a 1 year low of $86.11 and a 1 year high of $178.28.

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

Analyst Upgrades and Downgrades

GDDY has been the topic of several recent analyst reports. Raymond James increased their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Benchmark lifted their target price on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Piper Sandler upped their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada lifted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Barclays upped their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average target price of $171.38.

Insider Activity

In related news, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the transaction, the chief accounting officer now directly owns 17,704 shares in the company, valued at $2,783,599.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at $2,783,599.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the transaction, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. The trade was 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 worth $4,529,897. Insiders own 0.61% of the company’s stock.

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.