Exchange Traded Concepts LLC Sells 3,832 Shares of GoDaddy Inc. (NYSE:GDDY)

Exchange Traded Concepts LLC lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 63.1% during the 3rd quarter, Holdings Channel reports. The fund owned 2,240 shares of the technology company’s stock after selling 3,832 shares during the period. Exchange Traded Concepts LLC’s holdings in GoDaddy were worth $351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Plato Investment Management Ltd increased its position in GoDaddy by 2,471.0% during the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after buying an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of 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 holdings in shares of GoDaddy by 87.5% during the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after acquiring an additional 39,200 shares in the last quarter. Swedbank AB raised its position in shares of GoDaddy by 3.5% in the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after purchasing an additional 5,247 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of GoDaddy by 866.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock valued at $1,227,000 after purchasing an additional 9,266 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the transaction, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the sale, the chief operating officer now directly owns 186,632 shares in the company, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the transaction, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,744 shares of company stock worth $5,114,931 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Up 0.2 %

GDDY stock opened at $164.70 on Friday. The firm has a market cap of $23.50 billion, a PE ratio of 13.68 and a beta of 1.12. 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 firm’s fifty day moving average is $159.14 and its 200 day moving average is $144.63. GoDaddy Inc. has a one year low of $71.15 and a one year high of $167.65.

GoDaddy (NYSE:GDDY) last posted its earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned $0.63 earnings per share. GoDaddy’s revenue was up 7.3% on a year-over-year basis. On average, research analysts forecast that GoDaddy Inc. will post 5.07 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on GDDY. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. B. Riley upped 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. Piper Sandler reaffirmed a “neutral” rating and set a $172.00 price target (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Finally, Raymond James lifted their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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.