GoDaddy Inc. (NYSE:GDDY) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 15.8% during the 3rd quarter, Holdings Channel reports. The firm owned 29,531 shares of the technology company’s stock after selling 5,523 shares during the period. Oppenheimer Asset Management Inc.’s holdings in GoDaddy were worth $4,630,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GDDY. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy during the third quarter worth approximately $27,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy during the second quarter worth approximately $28,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy during the third quarter worth approximately $30,000. ORG Partners LLC purchased a new stake in shares of GoDaddy during the second quarter worth approximately $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of GoDaddy during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $182.95 on Friday. 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 stock has a fifty day moving average price of $162.10 and a 200 day moving average price of $150.60. GoDaddy Inc. has a 1-year low of $91.68 and a 1-year high of $190.21. The company has a market cap of $25.68 billion, a PE ratio of 14.14 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last issued its quarterly 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. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned $0.89 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Sell-side analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction 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 approximately $58,047,957.24. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction 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 directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,844 shares of company stock valued at $4,619,397. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GDDY. Benchmark upped their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Piper Sandler increased their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Raymond James increased their price target on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Five research 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. Based on data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

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.