HighTower Advisors LLC Sells 10,660 Shares of GoDaddy Inc. (NYSE:GDDY)

HighTower Advisors LLC reduced its position in GoDaddy Inc. (NYSE:GDDY) by 39.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,385 shares of the technology company’s stock after selling 10,660 shares during the period. HighTower Advisors LLC’s holdings in GoDaddy were worth $2,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after buying an additional 6,424 shares in the last quarter. Highland Capital Management LLC purchased a new position in GoDaddy in the third quarter worth about $1,132,000. 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. Crossmark Global Holdings Inc. raised its position in GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after purchasing an additional 9,631 shares during the period. Finally, Dai ichi Life Insurance Company Ltd lifted its stake in shares of GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after purchasing an additional 17,021 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Insider Buying and Selling at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the transaction, the chief executive officer now directly owns 342,956 shares in the company, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Phontip Palitwanon sold 1,554 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $203.90, for a total value of $316,860.60. Following the completion of the transaction, the chief accounting officer now directly owns 21,505 shares of the company’s stock, valued at approximately $4,384,869.50. The trade was a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,503 shares of company stock valued at $4,102,853. Company insiders own 0.61% of the company’s stock.

GoDaddy Trading Down 1.0 %

GDDY opened at $206.73 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock’s fifty day moving average is $180.63 and its two-hundred day moving average is $160.28. The company has a market capitalization of $29.02 billion, a P/E ratio of 15.98 and a beta of 1.15. GoDaddy Inc. has a 52 week low of $99.90 and a 52 week high of $210.30.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GDDY shares. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Barclays increased their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Benchmark lifted their price target on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Robert W. Baird increased their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler boosted their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Five investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.57.

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.