GoDaddy Inc. (NYSE:GDDY) Stock Position Reduced by USA Financial Formulas

USA Financial Formulas lessened its stake in GoDaddy Inc. (NYSE:GDDY) by 39.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,387 shares of the technology company’s stock after selling 2,802 shares during the quarter. USA Financial Formulas’ holdings in GoDaddy were worth $866,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy during the third quarter worth $27,000. ORG Wealth Partners LLC acquired a new position in GoDaddy in the 3rd quarter worth about $30,000. Anchor Investment Management LLC acquired a new position in GoDaddy in the 3rd quarter worth about $31,000. Versant Capital Management Inc purchased a new stake in shares of GoDaddy during the 4th quarter worth about $43,000. Finally, Huntington National Bank lifted its holdings in shares of GoDaddy by 298.7% during the 3rd quarter. Huntington National Bank now owns 307 shares of the technology company’s stock valued at $48,000 after buying an additional 230 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GDDY shares. Citigroup increased their price objective on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Robert W. Baird increased their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price target (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Jefferies Financial Group lifted their price objective on shares of GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler raised their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.14.

GoDaddy Price Performance

NYSE GDDY opened at $199.01 on Thursday. The stock has a 50-day simple moving average of $197.87 and a 200 day simple moving average of $170.37. GoDaddy Inc. has a twelve month low of $103.64 and a twelve month high of $211.11. The stock has a market capitalization of $27.94 billion, a PE ratio of 15.38 and a beta of 1.15. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. Research analysts anticipate that GoDaddy Inc. will post 4.96 EPS for the current year.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $207.35, for a total transaction of $207,350.00. Following the transaction, the chief operating officer now directly owns 184,632 shares in the company, valued at $38,283,445.20. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the sale, the chief executive officer now owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,003 shares of company stock worth $4,462,363 in the last ninety days. 0.61% of the stock is currently owned by insiders.

GoDaddy Company 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.