GoDaddy Inc. (NYSE:GDDY) Shares Sold by Atria Investments Inc

Atria Investments Inc lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 3.1% during the third quarter, HoldingsChannel reports. The firm owned 9,042 shares of the technology company’s stock after selling 285 shares during the period. Atria Investments Inc’s holdings in GoDaddy were worth $1,418,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy in the second quarter worth about $28,000. ORG Wealth Partners LLC bought a new position in shares of GoDaddy during the third quarter valued at approximately $30,000. ORG Partners LLC bought a new position in GoDaddy in the 2nd quarter worth approximately $32,000. International Assets Investment Management LLC acquired a new stake in GoDaddy in the second quarter worth approximately $36,000. Finally, New Covenant Trust Company N.A. acquired a new stake in GoDaddy in the first quarter worth approximately $45,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $182.95 on Friday. GoDaddy Inc. has a fifty-two week low of $91.68 and a fifty-two week high of $190.21. The firm has a market cap of $25.68 billion, a P/E ratio of 14.14 and a beta of 1.11. 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 firm has a 50 day simple moving average of $162.10 and a 200 day simple moving average of $150.60.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GDDY shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, B. Riley increased their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $171.38.

Insider Buying and Selling at GoDaddy

In related 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 transaction, the chief executive officer now owns 358,773 shares in the company, valued at approximately $59,882,801.43. This represents a 0.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,844 shares of company stock worth $4,619,397. Insiders own 0.61% of the company’s stock.

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.