Farther Finance Advisors LLC Trims Position in GoDaddy Inc. (NYSE:GDDY)

Farther Finance Advisors LLC trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 49.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 287 shares of the technology company’s stock after selling 281 shares during the period. Farther Finance Advisors LLC’s holdings in GoDaddy were worth $45,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of GoDaddy by 20.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 75,554 shares of the technology company’s stock valued at $8,967,000 after buying an additional 12,651 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new stake in shares of GoDaddy in the first quarter worth $216,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of GoDaddy by 87.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 191,924 shares of the technology company’s stock worth $23,049,000 after purchasing an additional 89,316 shares in the last quarter. Intech Investment Management LLC raised its position in shares of GoDaddy by 143.3% during the 1st quarter. Intech Investment Management LLC now owns 16,489 shares of the technology company’s stock valued at $1,957,000 after purchasing an additional 9,712 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in GoDaddy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after buying an additional 379,228 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the sale, the chief executive officer now owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. This trade represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Nick Daddario sold 2,976 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the transaction, the chief accounting officer now directly owns 14,728 shares in the company, valued at approximately $2,232,912.08. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,844 shares of company stock valued at $4,619,397. 0.61% of the stock is owned by corporate insiders.

GoDaddy Price Performance

Shares of GDDY opened at $185.28 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 company’s fifty day moving average price is $161.46 and its 200-day moving average price is $150.36. GoDaddy Inc. has a 1-year low of $90.42 and a 1-year high of $190.21. The firm has a market capitalization of $26.01 billion, a PE ratio of 14.32 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion for 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 business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. On average, equities research analysts predict that GoDaddy Inc. will post 4.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on GDDY shares. B. Riley increased their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Benchmark increased their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” 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 stock an “overweight” rating in a research note on Wednesday, September 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Finally, Raymond James raised their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Five investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $171.38.

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.