GoDaddy Inc. (NYSE:GDDY) Shares Sold by Olympiad Research LP

Olympiad Research LP lessened its position in shares of GoDaddy Inc. (NYSE:GDDY) by 11.7% in the third quarter, Holdings Channel.com reports. The fund owned 1,336 shares of the technology company’s stock after selling 177 shares during the quarter. Olympiad Research LP’s holdings in GoDaddy were worth $209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after acquiring an additional 67 shares during the period. Whittier Trust Co. raised its position in GoDaddy by 4.3% in the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares during the period. Optas LLC raised its position in GoDaddy by 5.8% in the third quarter. Optas LLC now owns 2,091 shares of the technology company’s stock valued at $328,000 after purchasing an additional 114 shares during the period. Atomi Financial Group Inc. lifted its stake in shares of GoDaddy by 7.6% during the third quarter. Atomi Financial Group Inc. now owns 1,861 shares of the technology company’s stock worth $292,000 after purchasing an additional 131 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of GoDaddy by 6.3% in the second quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock worth $346,000 after buying an additional 148 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.61, for a total transaction of $451,191.36. Following the completion of the transaction, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the completion of the transaction, the chief accounting officer now owns 14,728 shares in the company, valued at approximately $2,232,912.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $167.79, for a total transaction of $503,370.00. Following the completion of the sale, the chief executive officer now owns 345,956 shares in the company, valued at approximately $58,047,957.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,344 shares of company stock valued at $4,529,897 over the last quarter. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of analyst reports. Barclays upped their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Raymond James upped their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday. Royal Bank of Canada boosted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Robert W. Baird raised their target price on GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $171.38.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $177.82 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market capitalization of $25.07 billion, a price-to-earnings ratio of 13.74 and a beta of 1.11. GoDaddy Inc. has a twelve month low of $86.11 and a twelve month high of $178.28. The business has a 50 day simple moving average of $159.96 and a 200-day simple moving average of $148.88.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current year.

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.