GoDaddy Inc. (NYSE:GDDY) Shares Sold by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC reduced its position in GoDaddy Inc. (NYSE:GDDY) by 8.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,022 shares of the technology company’s stock after selling 294 shares during the quarter. Applied Finance Capital Management LLC’s holdings in GoDaddy were worth $474,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of GDDY. Price T Rowe Associates Inc. MD lifted its holdings in shares of GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after purchasing an additional 1,775,708 shares during the period. Kodai Capital Management LP acquired a new stake in shares of GoDaddy during the first quarter worth $75,855,000. Federated Hermes Inc. lifted its holdings in shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of GoDaddy by 2,279.5% during the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after purchasing an additional 384,386 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after purchasing an additional 379,228 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the sale, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares in the company, valued at approximately $16,686,868.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the sale, the chief executive officer now owns 358,773 shares of the company’s stock, valued at $59,882,801.43. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,344 shares of company stock worth $4,529,897 in the last three months. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GDDY has been the subject of several recent research reports. Benchmark increased their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada increased their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Stock Performance

NYSE GDDY opened at $177.82 on Friday. The firm has a market capitalization of $24.96 billion, a P/E ratio of 13.74 and a beta of 1.11. GoDaddy Inc. has a 1-year low of $86.11 and a 1-year high of $178.28. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50-day simple moving average is $159.96 and its 200-day simple moving average is $148.88.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. Equities analysts predict that GoDaddy Inc. will post 4.95 EPS for the current year.

About GoDaddy

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.