Atria Investments Inc Lowers Holdings in GoDaddy Inc. (NYSE:GDDY)

Atria Investments Inc trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,042 shares of the technology company’s stock after selling 285 shares during the quarter. Atria Investments Inc’s holdings in GoDaddy were worth $1,418,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Highland Capital Management LLC purchased a new stake in shares of GoDaddy in the 3rd quarter worth $1,132,000. Plato Investment Management Ltd increased its holdings in shares of GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after purchasing an additional 6,227 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after purchasing an additional 35,703 shares during the period. Principal Financial Group Inc. boosted its position in GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares in the last quarter. Finally, Swedbank AB boosted its position in GoDaddy by 3.5% during the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after purchasing an additional 5,247 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on GDDY shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Piper Sandler increased their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada increased their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Raymond James raised their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Price Performance

GDDY stock opened at $182.95 on Friday. GoDaddy Inc. has a 52-week low of $91.68 and a 52-week high of $190.21. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The business has a fifty day moving average of $162.10 and a two-hundred day moving average of $150.60. The stock has a market cap of $25.68 billion, a price-to-earnings ratio of 14.14 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. As a group, research analysts anticipate that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Insider Activity at GoDaddy

In other news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the transaction, the chief financial officer now owns 101,286 shares of the company’s stock, valued at $16,686,868.50. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the sale, the chief executive officer now owns 358,773 shares in the company, valued at $59,882,801.43. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,844 shares of company stock worth $4,619,397 in the last quarter. Company insiders own 0.61% of the company’s stock.

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.