HighTower Advisors LLC Trims Stock Position in GoDaddy Inc. (NYSE:GDDY)

HighTower Advisors LLC cut its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 39.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company's stock worth $2,837,000 after buying an additional 67 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in GoDaddy by 4.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company's stock worth $296,000 after acquiring an additional 73 shares during the period. Whittier Trust Co. boosted its stake in shares of GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company's stock worth $249,000 after acquiring an additional 74 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of GoDaddy by 11.3% during the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company's stock valued at $153,000 after acquiring an additional 99 shares during the period. Finally, Equitable Trust Co. increased its stake in shares of GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company's stock worth $1,322,000 after purchasing an additional 107 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GDDY. Piper Sandler lifted 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. StockNews.com cut GoDaddy from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 8th. B. Riley increased their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $181.57.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now owns 24,121 shares of the company's stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the sale, the chief operating officer now owns 187,632 shares of the company's stock, valued at approximately $28,551,961.44. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,503 shares of company stock worth $4,102,853 over the last 90 days. 0.61% of the stock is owned by insiders.

GoDaddy Price Performance

Shares of NYSE:GDDY traded down $2.13 during mid-day trading on Friday, reaching $206.78. The stock had a trading volume of 784,957 shares, compared to its average volume of 1,460,180. The business's 50 day moving average price is $180.63 and its 200 day moving average price is $160.44. GoDaddy Inc. has a 1 year low of $99.90 and a 1 year high of $210.30. The company has a market cap of $29.03 billion, a P/E ratio of 15.98 and a beta of 1.15. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the firm earned $0.89 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts expect that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.

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.