Orion Portfolio Solutions LLC Has $2.35 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Orion Portfolio Solutions LLC lowered its stake in GoDaddy Inc. (NYSE:GDDY) by 21.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,983 shares of the technology company’s stock after selling 4,082 shares during the period. Orion Portfolio Solutions LLC’s holdings in GoDaddy were worth $2,349,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GDDY. Principal Financial Group Inc. raised its stake in shares of GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after acquiring an additional 6,424 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of GoDaddy in the third quarter valued at approximately $1,132,000. Swedbank AB lifted its stake in shares of GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after buying an additional 5,247 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after buying an additional 9,631 shares during the period. Finally, Dai ichi Life Insurance Company Ltd grew its stake in GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after buying an additional 17,021 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $208.37 on Thursday. The firm has a market cap of $29.25 billion, a P/E ratio of 16.10 and a beta of 1.15. The firm’s 50-day simple moving average is $178.53 and its 200-day simple moving average is $159.48. GoDaddy Inc. has a twelve month low of $99.90 and a twelve month high of $210.30. 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 released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $0.89 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, research analysts expect that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Activity at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the sale, the chief operating officer now owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 348,956 shares in the company, valued at $54,297,553.60. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,503 shares of company stock valued at $4,102,853 in the last 90 days. 0.61% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on GDDY. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Robert W. Baird raised their target price on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Barclays lifted their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler boosted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus target price of $181.57.

GoDaddy 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.