Fort L.P. Sells 448 Shares of GoDaddy Inc. (NYSE:GDDY)

Fort L.P. trimmed its stake in GoDaddy Inc. (NYSE:GDDY) by 18.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,032 shares of the technology company’s stock after selling 448 shares during the quarter. GoDaddy makes up about 0.8% of Fort L.P.’s portfolio, making the stock its 17th biggest holding. Fort L.P.’s holdings in GoDaddy were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of GDDY. Optas LLC boosted its stake in shares of GoDaddy by 5.8% during the 3rd quarter. Optas LLC now owns 2,091 shares of the technology company’s stock worth $328,000 after acquiring an additional 114 shares during the period. AustralianSuper Pty Ltd bought a new position in shares of GoDaddy during the 3rd quarter worth approximately $1,428,000. US Bancorp DE boosted its stake in shares of GoDaddy by 22.3% during the 3rd quarter. US Bancorp DE now owns 37,458 shares of the technology company’s stock worth $5,873,000 after acquiring an additional 6,827 shares during the period. Petra Financial Advisors Inc. bought a new position in shares of GoDaddy during the 3rd quarter worth approximately $582,000. Finally, Oak Harvest Investment Services boosted its stake in shares of GoDaddy by 72.8% during the 3rd quarter. Oak Harvest Investment Services now owns 14,290 shares of the technology company’s stock worth $2,240,000 after acquiring an additional 6,020 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the transaction, the chief operating officer now owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $466,800.00. Following the completion of the transaction, the chief executive officer now owns 348,956 shares of the company’s stock, valued at $54,297,553.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the transaction, the chief operating officer now directly owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,744 shares of company stock valued at $4,089,571. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Price Performance

NYSE GDDY traded down $3.44 during midday trading on Friday, hitting $163.36. The company had a trading volume of 1,545,938 shares, compared to its average volume of 948,576. The company has a market capitalization of $23.03 billion, a PE ratio of 12.62 and a beta of 1.11. The company has a current ratio of 0.56, a quick ratio of 0.48 and a debt-to-equity ratio of 10.61. The firm has a 50-day moving average price of $159.18 and a 200-day moving average price of $147.27. GoDaddy Inc. has a twelve month low of $74.12 and a twelve month high of $171.93.

GoDaddy (NYSE:GDDY) last posted 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. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. GoDaddy’s revenue was up 7.3% on a year-over-year basis. As a group, analysts anticipate that GoDaddy Inc. will post 5.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GDDY. Barclays lifted their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Raymond James lifted their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird lifted their price target on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Finally, B. Riley lifted their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $171.38.

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.