GoDaddy Inc. (NYSE:GDDY) Shares Sold by Summit Global Investments

Summit Global Investments lessened its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 33.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,960 shares of the technology company's stock after selling 23,620 shares during the quarter. Summit Global Investments' holdings in GoDaddy were worth $7,519,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy in the 2nd quarter worth approximately $28,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy during the third quarter worth $30,000. ORG Partners LLC purchased a new stake in shares of GoDaddy in the 2nd quarter valued at $32,000. International Assets Investment Management LLC acquired a new position in GoDaddy during the 2nd quarter worth about $36,000. Finally, New Covenant Trust Company N.A. acquired a new position in GoDaddy during the 1st quarter worth about $45,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the transaction, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares of the company's stock, valued at $16,686,868.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the sale, the chief operating officer now directly owns 187,632 shares in the company, valued at approximately $28,551,961.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,344 shares of company stock worth $4,529,897 in the last three months. Insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

NYSE GDDY traded up $0.53 during trading on Friday, reaching $177.84. The company's stock had a trading volume of 441,602 shares, compared to its average volume of 1,460,868. The business's fifty day moving average price is $159.75 and its 200-day moving average price is $148.49. GoDaddy Inc. has a twelve month low of $86.11 and a twelve month high of $178.28. 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 cap of $25.07 billion, a price-to-earnings ratio of 13.76 and a beta of 1.11.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business earned $0.89 EPS. The firm's revenue was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on GDDY shares. Raymond James raised their price objective 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. Robert W. Baird raised their price target on shares of GoDaddy from $190.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Barclays upped 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. B. Riley lifted their target price on GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their target price on GoDaddy from $175.00 to $190.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of "Moderate Buy" and an average price target of $171.38.

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.