Prospera Financial Services Inc Invests $807,000 in GoDaddy Inc. (NYSE:GDDY)

Prospera Financial Services Inc acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,150 shares of the technology company's stock, valued at approximately $807,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of GoDaddy by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company's stock worth $2,837,000 after acquiring an additional 67 shares during the last quarter. Prime Capital Investment Advisors LLC increased its holdings in GoDaddy by 4.0% in the 3rd 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 in the last quarter. Whittier Trust Co. raised its stake in 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 period. Lindbrook Capital LLC lifted its holdings in GoDaddy by 11.3% during the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company's stock valued at $153,000 after purchasing an additional 99 shares in the last quarter. Finally, Equitable Trust Co. boosted its position in shares of GoDaddy by 1.3% in the third 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 during the period. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Stock Performance

GoDaddy stock opened at $196.41 on Friday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $27.57 billion, a P/E ratio of 15.18 and a beta of 1.11. GoDaddy Inc. has a 1-year low of $94.50 and a 1-year high of $196.71. The company's 50-day moving average is $165.74 and its 200 day moving average is $152.83.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share 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 firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business posted $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

Several analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Tuesday. Barclays raised their price target on GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. StockNews.com downgraded GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada upped their price target on GoDaddy from $175.00 to $190.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $173.31.

Insider Activity

In related news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction dated Monday, September 16th. The shares were 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 directly owns 187,632 shares of the company's stock, valued at $28,551,961.44. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the transaction, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,845 shares of company stock valued at $4,803,380. 0.61% of the stock is currently owned by company insiders.

About GoDaddy

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.