Simplicity Wealth LLC Reduces Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Simplicity Wealth LLC decreased its position in GoDaddy Inc. (NYSE:GDDY) by 81.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,398 shares of the technology company’s stock after selling 14,610 shares during the period. Simplicity Wealth LLC’s holdings in GoDaddy were worth $533,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GDDY. V Square Quantitative Management LLC purchased a new position in GoDaddy in the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy during the second quarter worth $28,000. GAMMA Investing LLC lifted its position in shares of GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of GoDaddy during the second quarter worth $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of GoDaddy during the second quarter worth $36,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now directly owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now directly owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Roger Chen sold 4,000 shares of the firm’s 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 completion of the sale, the chief operating officer now owns 188,632 shares of the company’s stock, valued at $27,630,815.36. This trade represents 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 worth $4,950,771 over the last three months. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GDDY shares. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Raymond James increased their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. B. Riley increased their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Finally, Barclays increased their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average price target of $166.54.

GoDaddy Stock Up 0.6 %

NYSE GDDY opened at $163.13 on Monday. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $23.28 billion, a PE ratio of 13.55 and a beta of 1.12. GoDaddy Inc. has a 1 year low of $71.15 and a 1 year high of $167.65. The business’s 50-day moving average is $158.06 and its 200 day moving average is $143.11.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.63 earnings per share. Sell-side analysts forecast that GoDaddy Inc. will post 5.07 earnings per share for the current year.

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.