GoDaddy Inc. (NYSE:GDDY) Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. lowered its position in shares of GoDaddy Inc. (NYSE:GDDY) by 8.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,705 shares of the technology company’s stock after selling 437 shares during the period. Wright Investors Service Inc.’s holdings in GoDaddy were worth $929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the third quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth about $30,000. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth about $31,000. Versant Capital Management Inc purchased a new stake in GoDaddy in the 4th quarter valued at about $43,000. Finally, Friedenthal Financial acquired a new position in GoDaddy in the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 0.3 %

GDDY stock opened at $193.46 on Tuesday. The company’s 50 day moving average price is $196.82 and its 200 day moving average price is $169.76. The firm has a market capitalization of $27.16 billion, a price-to-earnings ratio of 14.95 and a beta of 1.15. GoDaddy Inc. has a fifty-two week low of $103.64 and a fifty-two week high of $211.11. 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 announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. On average, equities research analysts anticipate that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target 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 report on Friday, November 8th. Piper Sandler upped their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Benchmark lifted their price objective on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a report on Wednesday, December 4th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $194.14.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was 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. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the transaction, the chief operating officer now owns 185,632 shares in the company, valued at $34,119,161.60. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,003 shares of company stock worth $4,462,363 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

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.