SPC Financial Inc. Sells 254 Shares of GoDaddy Inc. (NYSE:GDDY)

SPC Financial Inc. trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,952 shares of the technology company’s stock after selling 254 shares during the quarter. SPC Financial Inc.’s holdings in GoDaddy were worth $1,717,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Plato Investment Management Ltd increased its holdings in shares of GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after purchasing an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in GoDaddy by 20.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after acquiring an additional 35,703 shares during the last quarter. Forsta AP Fonden increased its stake in GoDaddy by 87.5% during the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after acquiring an additional 39,200 shares during the last quarter. Swedbank AB increased its stake in GoDaddy by 3.5% during the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after acquiring an additional 5,247 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in GoDaddy by 866.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after acquiring an additional 9,266 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Up 0.6 %

Shares of NYSE GDDY opened at $163.85 on Thursday. The firm has a market capitalization of $23.38 billion, a price-to-earnings ratio of 13.61 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 debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a 50 day moving average price of $158.84 and a 200 day moving average price of $144.03.

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 business had revenue of $1.12 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. Sell-side analysts expect that GoDaddy Inc. will post 5.07 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at $2,783,599.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the transaction, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 358,773 shares in the company, valued at approximately $59,882,801.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,744 shares of company stock valued at $4,950,771 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GDDY. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. B. Riley boosted their target price on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Benchmark restated a “buy” rating and set a $186.00 target price on shares of GoDaddy in a research report on Tuesday. Finally, Piper Sandler restated a “neutral” rating and set a $172.00 target price (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $166.54.

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.