USA Financial Formulas Sells 2,802 Shares of GoDaddy Inc. (NYSE:GDDY)

USA Financial Formulas decreased its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 39.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,387 shares of the technology company's stock after selling 2,802 shares during the period. USA Financial Formulas' holdings in GoDaddy were worth $866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GDDY. Park Avenue Securities LLC increased its position in shares of GoDaddy by 109.4% in the fourth quarter. Park Avenue Securities LLC now owns 16,560 shares of the technology company's stock worth $3,268,000 after acquiring an additional 8,650 shares in the last quarter. Kathmere Capital Management LLC boosted its holdings in GoDaddy by 5.4% in the fourth quarter. Kathmere Capital Management LLC now owns 3,301 shares of the technology company's stock valued at $652,000 after purchasing an additional 168 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in GoDaddy by 7.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 89,110 shares of the technology company's stock worth $17,588,000 after purchasing an additional 5,955 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in shares of GoDaddy during the 4th quarter valued at approximately $967,000. Finally, Friedenthal Financial bought a new stake in shares of GoDaddy in the fourth quarter worth $49,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

Shares of GoDaddy stock traded up $0.80 during trading on Thursday, reaching $199.97. The company's stock had a trading volume of 653,461 shares, compared to its average volume of 1,029,208. GoDaddy Inc. has a one year low of $103.64 and a one year high of $211.11. 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 $28.07 billion, a price-to-earnings ratio of 15.45 and a beta of 1.15. The business's fifty day moving average price is $197.87 and its 200-day moving average price is $170.37.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 earnings per share. As a group, equities research analysts predict that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GDDY shares. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $175.00 to $224.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. B. Riley raised their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. StockNews.com cut shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th. Cantor Fitzgerald reissued a "neutral" rating and issued a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Finally, Barclays increased their target price on GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.14.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the transaction, the chief operating officer now directly owns 185,632 shares of the company's stock, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 transaction, the chief executive officer now directly owns 345,956 shares of the company's stock, valued at $58,047,957.24. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,003 shares of company stock worth $4,462,363 in the last ninety days. Insiders own 0.61% of the company's stock.

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.