Towercrest Capital Management Acquires New Position in GoDaddy Inc. (NYSE:GDDY)

Towercrest Capital Management bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,214 shares of the technology company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GDDY. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in GoDaddy during the 3rd quarter valued at about $472,000. PNC Financial Services Group Inc. boosted its stake in GoDaddy by 18.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,285 shares of the technology company’s stock valued at $985,000 after purchasing an additional 986 shares during the period. Moors & Cabot Inc. acquired a new stake in shares of GoDaddy in the 3rd quarter worth approximately $404,000. Massachusetts Financial Services Co. MA lifted its stake in shares of GoDaddy by 5.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 39,785 shares of the technology company’s stock worth $6,237,000 after acquiring an additional 2,124 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of GoDaddy by 24.1% in the 3rd quarter. Pacer Advisors Inc. now owns 53,298 shares of the technology company’s stock worth $8,356,000 after acquiring an additional 10,345 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GDDY shares. Piper Sandler upped their price target on shares of GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. UBS Group upped their price target on shares of GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Wells Fargo & Company started coverage on shares of GoDaddy in a research note on Monday, February 3rd. They issued an “equal weight” rating and a $198.00 price target for the company. Finally, Citigroup upped their price target on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $213.20.

GoDaddy Stock Down 0.1 %

GDDY stock opened at $180.49 on Monday. GoDaddy Inc. has a 52-week low of $118.39 and a 52-week high of $216.00. The company’s 50 day simple moving average is $191.37 and its 200-day simple moving average is $183.32. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The firm has a market capitalization of $25.51 billion, a P/E ratio of 27.98 and a beta of 1.25.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. As a group, equities research analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $1,094,555.00. Following the transaction, the chief financial officer now owns 84,300 shares in the company, valued at approximately $16,776,543. This represents a 6.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the transaction, the chief operating officer now owns 183,632 shares in the company, valued at approximately $36,831,070.24. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock worth $3,816,029 over the last 90 days. 0.61% of the stock is owned by company 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.