HighTower Advisors LLC Sells 10,660 Shares of GoDaddy Inc. (NYSE:GDDY)

HighTower Advisors LLC lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 39.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hilltop Holdings Inc. bought a new position in shares of GoDaddy during the third quarter valued at $357,000. Concentric Capital Strategies LP purchased a new stake in GoDaddy during the 3rd quarter valued at about $2,839,000. Ascent Group LLC increased its stake in GoDaddy by 20.3% during the 3rd quarter. Ascent Group LLC now owns 2,387 shares of the technology company’s stock valued at $374,000 after purchasing an additional 402 shares in the last quarter. Maverick Capital Ltd. raised its holdings in GoDaddy by 2.7% in the third quarter. Maverick Capital Ltd. now owns 9,358 shares of the technology company’s stock worth $1,467,000 after buying an additional 246 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in GoDaddy by 25.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 575,007 shares of the technology company’s stock worth $90,150,000 after buying an additional 117,028 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GDDY. B. Riley raised their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their price target on GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their price objective on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price (up previously from $190.00) on shares of GoDaddy in a research report on Wednesday, December 4th. Finally, Robert W. Baird raised their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.57.

GoDaddy Stock Down 1.0 %

Shares of GDDY stock opened at $206.73 on Friday. The company has a 50 day simple moving average of $180.63 and a two-hundred day simple moving average of $160.28. The stock has a market cap of $29.02 billion, a P/E ratio of 15.98 and a beta of 1.15. GoDaddy Inc. has a 12 month low of $99.90 and a 12 month high of $210.30. 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) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm 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%. GoDaddy’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 EPS. On average, research analysts expect that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the 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 in the company, valued at approximately $28,551,961.44. This represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of GoDaddy 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 sale, the director now directly owns 24,121 shares in the company, valued at $4,317,659. This trade represents a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,503 shares of company stock valued at $4,102,853 over the last quarter. 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.