GoDaddy Inc. (NYSE:GDDY) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,990 shares of the technology company’s stock after selling 105 shares during the period. Hartford Investment Management Co.’s holdings in GoDaddy were worth $1,409,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Private Advisor Group LLC purchased a new position in shares of GoDaddy during the 3rd quarter worth $343,000. Signaturefd LLC lifted its position in GoDaddy by 13.7% during the third quarter. Signaturefd LLC now owns 2,819 shares of the technology company’s stock worth $442,000 after buying an additional 339 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in GoDaddy in the 3rd quarter worth about $293,000. Western Financial Corp CA purchased a new stake in GoDaddy in the 3rd quarter valued at about $977,000. Finally, Carolina Wealth Advisors LLC acquired a new position in shares of GoDaddy during the 3rd quarter valued at about $49,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $585,920.00. Following the completion of the sale, the chief operating officer now owns 188,632 shares in the company, valued at $27,630,815.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the sale, the chief executive officer now owns 358,773 shares in the company, valued at approximately $59,882,801.43. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $585,920.00. Following the transaction, the chief operating officer now directly owns 188,632 shares in the company, valued at $27,630,815.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,744 shares of company stock valued at $5,114,931. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GDDY shares. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Benchmark reissued a “buy” rating and set a $186.00 price objective on shares of GoDaddy in a research note on Tuesday, October 15th. Robert W. Baird increased their target price on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. B. Riley boosted their price target on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.54.

GoDaddy Trading Down 0.6 %

NYSE GDDY opened at $160.53 on Friday. The company’s fifty day simple moving average is $159.26 and its 200-day simple moving average is $145.78. The stock has a market cap of $22.91 billion, a P/E ratio of 13.33 and a beta of 1.12. GoDaddy Inc. has a 52 week low of $71.15 and a 52 week high of $167.65. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. 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 $0.63 EPS. Equities research analysts predict that GoDaddy Inc. will post 5.07 EPS for the current fiscal year.

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.