Impact Partnership Wealth LLC Invests $654,000 in GoDaddy Inc. $GDDY

Impact Partnership Wealth LLC purchased a new stake in GoDaddy Inc. (NYSE:GDDY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,906 shares of the technology company’s stock, valued at approximately $654,000.

A number of other institutional investors have also added to or reduced their stakes in GDDY. Rachor Investment Advisory Services LLC bought a new position in GoDaddy in the 4th quarter valued at approximately $25,000. Activest Wealth Management increased its holdings in shares of GoDaddy by 6,600.0% during the fourth quarter. Activest Wealth Management now owns 201 shares of the technology company’s stock worth $25,000 after buying an additional 198 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of GoDaddy in the 4th quarter valued at $25,000. Brown Brothers Harriman & Co. lifted its stake in shares of GoDaddy by 145.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 253 shares of the technology company’s stock valued at $35,000 after acquiring an additional 150 shares during the last quarter. Finally, Harbour Investments Inc. boosted its holdings in shares of GoDaddy by 191.0% during the 4th quarter. Harbour Investments Inc. now owns 259 shares of the technology company’s stock valued at $32,000 after acquiring an additional 170 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GoDaddy

In other news, Director Sigal Zarmi sold 350 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $87.84, for a total transaction of $30,744.00. Following the transaction, the director owned 5,708 shares of the company’s stock, valued at $501,390.72. This represents a 5.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Phontip Palitwanon sold 542 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total value of $48,704.12. Following the completion of the sale, the chief accounting officer owned 19,995 shares of the company’s stock, valued at approximately $1,796,750.70. This represents a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,751 shares of company stock worth $1,480,228 over the last three months. 0.93% of the stock is currently owned by company insiders.

GoDaddy Stock Performance

Shares of GDDY stock opened at $86.86 on Thursday. The firm has a 50 day moving average of $84.81 and a 200-day moving average of $93.41. The company has a market cap of $11.50 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.77 and a beta of 0.89. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 52 week low of $71.59 and a 52 week high of $179.61.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. GoDaddy’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 EPS. On average, equities analysts forecast that GoDaddy Inc. will post 7.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GDDY. Wells Fargo & Company boosted their price objective on GoDaddy from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. cut their price target on GoDaddy from $154.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Piper Sandler started coverage on GoDaddy in a research note on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price objective for the company. Benchmark dropped their price objective on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of GoDaddy in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.43.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.