Venturi Wealth Management LLC Reduces Position in GoDaddy Inc. (NYSE:GDDY)

Venturi Wealth Management LLC trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 15.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 421 shares of the technology company’s stock after selling 78 shares during the quarter. Venturi Wealth Management LLC’s holdings in GoDaddy were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of GoDaddy in the third quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new stake in GoDaddy in the 2nd quarter worth approximately $28,000. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy in the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new position in shares of GoDaddy during the second quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC bought a new position in shares of GoDaddy during the second quarter valued at approximately $36,000. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GDDY has been the topic of several recent analyst reports. Robert W. Baird lifted their price target on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Piper Sandler increased their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays lifted their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. B. Riley raised their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Stock Performance

Shares of GDDY stock opened at $185.28 on Friday. 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 company has a market capitalization of $26.01 billion, a price-to-earnings ratio of 14.32 and a beta of 1.11. GoDaddy Inc. has a one year low of $90.42 and a one year high of $190.21. The company’s 50-day moving average is $161.46 and its 200 day moving average is $150.36.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. Sell-side analysts expect that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value 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 approximately $16,686,868.50. The trade was a 5.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction 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 $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 have sold a total of 28,844 shares of company stock valued at $4,619,397 over the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

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.