Petra Financial Advisors Inc. Takes $582,000 Position in GoDaddy Inc. (NYSE:GDDY)

Petra Financial Advisors Inc. bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,714 shares of the technology company’s stock, valued at approximately $582,000.

Other hedge funds have also bought and sold shares of the company. Oak Harvest Investment Services boosted its stake in GoDaddy by 72.8% during the third quarter. Oak Harvest Investment Services now owns 14,290 shares of the technology company’s stock valued at $2,240,000 after buying an additional 6,020 shares during the last quarter. SteelPeak Wealth LLC purchased a new position in shares of GoDaddy in the third quarter valued at $2,093,000. New York State Teachers Retirement System increased its position in GoDaddy by 13.6% in the third quarter. New York State Teachers Retirement System now owns 102,473 shares of the technology company’s stock worth $16,066,000 after purchasing an additional 12,244 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in GoDaddy during the third quarter valued at $11,490,000. Finally, abrdn plc increased its holdings in shares of GoDaddy by 100.4% in the 3rd quarter. abrdn plc now owns 57,243 shares of the technology company’s stock worth $8,947,000 after buying an additional 28,672 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Up 4.5 %

Shares of NYSE:GDDY traded up $7.26 during trading on Thursday, reaching $168.86. 480,807 shares of the company were exchanged, compared to its average volume of 1,457,292. The business’s fifty day simple moving average is $159.08 and its 200-day simple moving average is $146.68. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. GoDaddy Inc. has a 12-month low of $72.14 and a 12-month high of $171.74. The firm has a market capitalization of $24.09 billion, a PE ratio of 13.98 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. On average, research analysts anticipate that GoDaddy Inc. will post 5.07 EPS for the current year.

Insider Activity

In other news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares in the company, valued at $734,620.21. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,744 shares of company stock worth $4,089,571. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on GDDY shares. Raymond James lifted their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Barclays boosted their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Royal Bank of Canada raised their price target on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Robert W. Baird boosted their price objective on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Benchmark increased their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.69.

About GoDaddy

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.