Bleakley Financial Group LLC Reduces Stake in GoDaddy Inc. (NYSE:GDDY)

Bleakley Financial Group LLC cut its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 42.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,891 shares of the technology company’s stock after selling 6,429 shares during the period. Bleakley Financial Group LLC’s holdings in GoDaddy were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GDDY. ORG Wealth Partners LLC bought a new position in shares of GoDaddy during the third quarter valued at approximately $30,000. Transcendent Capital Group LLC purchased a new position in GoDaddy during the 2nd quarter valued at $28,000. ORG Partners LLC bought a new position in GoDaddy in the 2nd quarter valued at $32,000. International Assets Investment Management LLC bought a new position in GoDaddy in the 2nd quarter valued at $36,000. Finally, GAMMA Investing LLC increased its stake in GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 133 shares during the period. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 0.2 %

GoDaddy stock opened at $164.70 on Friday. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65. The business has a fifty day moving average price of $159.14 and a 200-day moving average price of $144.63. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $23.50 billion, a price-to-earnings ratio of 13.68 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the business posted $0.63 EPS. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts forecast that GoDaddy Inc. will post 5.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the sale, the chief operating officer now directly owns 186,632 shares in the company, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the transaction, the chief operating officer now directly owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at $2,783,599.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,744 shares of company stock valued at $5,114,931. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on GDDY shares. Robert W. Baird upped their price target on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. B. Riley raised their target price on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Benchmark reissued a “buy” rating and set a $186.00 price target on shares of GoDaddy in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their price objective on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $166.54.

GoDaddy 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.