Prospera Financial Services Inc Buys New Position in GoDaddy Inc. (NYSE:GDDY)

Prospera Financial Services Inc purchased a new position in GoDaddy Inc. (NYSE:GDDY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,150 shares of the technology company’s stock, valued at approximately $807,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in GoDaddy in the third quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new position in GoDaddy in the third quarter worth approximately $30,000. Transcendent Capital Group LLC bought a new position in GoDaddy in the second quarter worth approximately $28,000. ORG Partners LLC bought a new position in GoDaddy in the second quarter worth approximately $32,000. Finally, International Assets Investment Management LLC bought a new position in GoDaddy in the second quarter worth approximately $36,000. Institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at $34,119,161.60. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the transaction, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,845 shares of company stock valued at $4,803,380 over the last three months. Company insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

NYSE:GDDY opened at $196.41 on Friday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The business has a fifty day simple moving average of $165.74 and a two-hundred day simple moving average of $152.83. GoDaddy Inc. has a 1 year low of $94.50 and a 1 year high of $196.71. The company has a market capitalization of $27.57 billion, a P/E ratio of 15.18 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $0.89 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GDDY shares. Benchmark increased their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Robert W. Baird increased their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday. B. Riley increased their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Finally, Royal Bank of Canada increased their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $173.31.

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.