GoDaddy Inc. (NYSE:GDDY) Shares Sold by Empowered Funds LLC

Empowered Funds LLC trimmed its holdings in GoDaddy Inc. (NYSE:GDDY) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,717 shares of the technology company’s stock after selling 664 shares during the period. Empowered Funds LLC’s holdings in GoDaddy were worth $6,070,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in GoDaddy in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy in the third quarter valued at approximately $30,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy in the second quarter valued at approximately $28,000. ORG Partners LLC acquired a new stake in shares of GoDaddy in the second quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC purchased a new position in GoDaddy during the second quarter worth approximately $36,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GoDaddy

In other news, CAO Nick Daddario sold 2,976 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the sale, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at $2,232,912.08. This trade represents a 16.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares in the company, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,844 shares of company stock worth $4,619,397. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GDDY shares. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Piper Sandler upped their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. B. Riley raised their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Benchmark raised their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays lifted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $171.38.

GoDaddy Stock Performance

Shares of GDDY opened at $182.92 on Friday. The company’s 50 day simple moving average is $162.76 and its 200-day simple moving average is $151.01. The firm has a market cap of $25.68 billion, a PE ratio of 14.14 and a beta of 1.11. GoDaddy Inc. has a 12-month low of $91.68 and a 12-month high of $190.21. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, equities analysts predict that GoDaddy Inc. will post 4.95 EPS for the current year.

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.