GoDaddy Inc. (NYSE:GDDY) Shares Bought by Avestar Capital LLC

Avestar Capital LLC boosted its position in GoDaddy Inc. (NYSE:GDDY) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,110 shares of the technology company’s stock after purchasing an additional 249 shares during the quarter. Avestar Capital LLC’s holdings in GoDaddy were worth $331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of GoDaddy in the third quarter worth $27,000. Transcendent Capital Group LLC bought a new position in GoDaddy in the 2nd quarter valued at about $28,000. ORG Wealth Partners LLC acquired a new position in GoDaddy during the 3rd quarter valued at about $30,000. ORG Partners LLC bought a new stake in shares of GoDaddy during the 2nd quarter worth about $32,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of GoDaddy in the 2nd quarter worth approximately $36,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were 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 owns 24,121 shares in the company, valued at $4,317,659. This represents a 2.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the transaction, the chief operating officer now owns 185,632 shares in the company, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,345 shares of company stock worth $3,897,255. 0.61% of the stock is currently owned by company insiders.

GoDaddy Trading Down 0.9 %

GoDaddy stock opened at $197.85 on Thursday. GoDaddy Inc. has a 52 week low of $96.42 and a 52 week high of $202.56. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $27.78 billion, a price-to-earnings ratio of 15.29 and a beta of 1.11. The company has a 50 day moving average price of $169.35 and a 200 day moving average price of $154.84.

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

Analysts Set New Price Targets

GDDY has been the subject of a number of research analyst reports. Raymond James upped their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Barclays raised their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Piper Sandler upped their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Benchmark raised their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Five 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Company 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.