Exchange Traded Concepts LLC lowered its position in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) by 23.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,722 shares of the technology company’s stock after selling 518 shares during the period. Exchange Traded Concepts LLC’s holdings in GoDaddy were worth $340,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in GDDY. Ashton Thomas Securities LLC purchased a new position in GoDaddy during the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC bought a new position in shares of GoDaddy during the third quarter valued at approximately $30,000. Anchor Investment Management LLC purchased a new position in GoDaddy during the third quarter valued at approximately $31,000. Versant Capital Management Inc bought a new position in GoDaddy in the fourth quarter worth approximately $43,000. Finally, Huntington National Bank raised its stake in GoDaddy by 298.7% in the third quarter. Huntington National Bank now owns 307 shares of the technology company’s stock worth $48,000 after buying an additional 230 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.
Insider Buying and Selling at GoDaddy
In related news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $207.35, for a total value of $207,350.00. Following the sale, the chief operating officer now directly owns 184,632 shares in the company, valued at approximately $38,283,445.20. The trade was a 0.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Phontip Palitwanon sold 770 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $196.64, for a total transaction of $151,412.80. Following the completion of the transaction, the chief accounting officer now owns 23,059 shares in the company, valued at approximately $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,483 shares of company stock worth $4,256,183 in the last ninety days. 0.61% of the stock is owned by insiders.
GoDaddy Price Performance
GoDaddy (NYSE:GDDY – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company earned $0.89 EPS. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that GoDaddy Inc. will post 4.96 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on GDDY. Benchmark lifted their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Piper Sandler increased their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Citigroup lifted their price objective on shares of GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.07.
View Our Latest Report on GoDaddy
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.
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