Hennion & Walsh Asset Management Inc. buy 1,438 shares of GoDaddy Inc. (NYSE:GDDY)

Hennion & Walsh Asset Management Inc. increased its stake in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) by 41.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,942 shares of the technology company’s stock after acquiring an additional 1,438 shares during the period. The holdings of Hennion & Walsh Asset Management Inc. in GoDaddy were worth $384,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Park Avenue Securities LLC boosted its position in shares of GoDaddy by 5.9% during the first quarter. Park Avenue Securities LLC now owns 11,419 shares of the technology company’s stock worth $887,000 after acquiring an additional 632 shares during the last quarter. IFP Advisors Inc raised its holdings in GoDaddy by 13.3% during the first quarter. IFP Advisors Inc now owns 3,408 shares of the technology company’s stock worth $251,000 after purchasing an additional 399 shares during the last quarter. Assenagon Asset Management SA boosted its holdings in GoDaddy by 72.5% during the first quarter. Assenagon Asset Management SA now owns 733,767 shares of the technology company’s stock worth $57,028,000 after purchasing an additional 308,313 shares during the last quarter. Allworth Financial LP boosted its holdings in GoDaddy by 309.9% during the first quarter. Allworth Financial LP now owns 1,869 shares of the technology company’s stock worth $145,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Hedeker Wealth LLC acquired a new position in GoDaddy during the first quarter worth $2,846,000. Institutional investors own 93.73% of the company’s shares.

GoDaddy Price Performance

Shares of GDDY stock opened at $75.52 on Friday. The firm has a market cap of $11.67 billion, a PE ratio of 36.13, a PEG ratio of 2.09 and a beta of 0.96. The company’s 50-day moving average is $72.95, and its 200-day moving average is $75.45. GoDaddy Inc. it has a fifty-two week low of $64.65 and a fifty-two week high of $85.32.

GoDaddy (NYSE:GDDY – Free Report) last released its quarterly earnings data on Thursday, May 4th. The technology company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.22). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. GoDaddy had a net margin of 8.03% and a negative return on equity of 95.00%. GoDaddy’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.41. Analysts predict that GoDaddy Inc. will post 2.4 earnings per share in the current fiscal year.

Internal activity

In related news, CAO Nick Daddario sold 341 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $75.37, for a total transaction of $25,701.17. Following the transaction, the chief accounting officer now directly owns 20,722 shares of the company’s stock, valued at $1,561,817.14. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Mark McCaffrey sold 812 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $75.37, for a total transaction of $61,200.44. Following the transaction, the chief financial officer now directly owns 92,609 shares of the company’s stock, valued at $6,979,940.33. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Nick Daddario sold 341 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $75.37, for a total transaction of $25,701.17. Following the completion of the transaction, the chief accounting officer now directly owns 20,722 shares in the company, valued at $1,561,817.14. Disclosure of this sale can be found here. Insiders have sold 14,286 shares of company stock valued at $1,072,436 over the last ninety days. Currently, 0.54% of the shares are owned by insiders of the company.

Wall Street analysts expect growth

GDDY has been the subject of several recent research reports. StockNews.com initiated coverage on shares of GoDaddy in a report on Thursday, May 18th. They set a “buy” rating on the company. B. Riley initiated coverage on shares of GoDaddy in a report on Wednesday, June 28th. They set a “buy” rating and a $102.00 price target for the company. Robert W. Baird initiated coverage on shares of GoDaddy in a report on Tuesday, April 11th. They set an “outperform” rating and a $95.00 price target for the company. Piper Sandler cut their target price on shares of GoDaddy from $88.00 to $84.00 in a report on Friday, May 5th. Finally, Barclays cut their target price on shares of GoDaddy from $100.00 to $98.00 in a research note on Friday, May 5th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.75, according to data from MarketBeat.

GoDaddy profile

(Free report)

GoDaddy Inc is engaged in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce and Basic Platform. The Applications and Commerce segment offers application products, including Websites + Marketing, a mobile-optimized online tool that enables customers to create e-commerce-enabled websites and online stores; and Managed WordPress, a streamlined and optimized hosting platform that enables customers to build and manage a WordPress site faster and more securely and is offered with WooCommerce for selling online; and marketing tools and services, such as the GoDaddy Studio mobile app, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and attract customers and create content.

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