Wealth Enhancement Advisory Services LLC Has $1.06 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Wealth Enhancement Advisory Services LLC increased its position in GoDaddy Inc. (NYSE:GDDY) by 13.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,883 shares of the technology company’s stock after purchasing an additional 699 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in GoDaddy were worth $1,060,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GDDY. Rakuten Securities Inc. grew its stake in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after buying an additional 165 shares during the period. City Holding Co. grew its stake in shares of GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company’s stock valued at $47,000 after buying an additional 60 shares during the period. OFI Invest Asset Management acquired a new stake in shares of GoDaddy in the 4th quarter valued at about $52,000. Summit Securities Group LLC acquired a new stake in shares of GoDaddy in the 4th quarter valued at about $58,000. Finally, Physician Wealth Advisors Inc. acquired a new stake in shares of GoDaddy in the 4th quarter valued at about $67,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Phontip Palitwanon sold 2,173 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the transaction, the chief accounting officer directly owned 21,198 shares in the company, valued at approximately $3,770,488.26. The trade was a 9.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $182.03, for a total transaction of $91,015.00. Following the completion of the transaction, the director owned 20,621 shares of the company’s stock, valued at $3,753,640.63. This represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,632 shares of company stock worth $10,983,985 in the last three months. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GDDY. Piper Sandler raised their target price on GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Morgan Stanley cut their price target on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price target on GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Wall Street Zen downgraded GoDaddy from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Benchmark reiterated a “buy” rating on shares of GoDaddy in a research note on Monday, April 28th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $214.86.

GoDaddy Price Performance

GoDaddy stock opened at $178.37 on Wednesday. GoDaddy Inc. has a 52 week low of $140.11 and a 52 week high of $216.00. The company’s 50 day moving average price is $181.87 and its two-hundred day moving average price is $186.53. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91. The stock has a market cap of $25.42 billion, a P/E ratio of 34.30 and a beta of 1.05.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. GoDaddy’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.76 EPS. On average, equities analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.