Equitable Trust Co. Has $1.32 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Equitable Trust Co. raised its position in GoDaddy Inc. (NYSE:GDDY) by 1.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 8,435 shares of the technology company’s stock after acquiring an additional 107 shares during the period. Equitable Trust Co.’s holdings in GoDaddy were worth $1,322,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after acquiring an additional 67 shares during the period. Whittier Trust Co. lifted its holdings in shares of GoDaddy by 4.3% in the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares in the last quarter. Optas LLC lifted its holdings in shares of GoDaddy by 5.8% in the third quarter. Optas LLC now owns 2,091 shares of the technology company’s stock valued at $328,000 after purchasing an additional 114 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of GoDaddy by 7.6% in the third quarter. Atomi Financial Group Inc. now owns 1,861 shares of the technology company’s stock valued at $292,000 after purchasing an additional 131 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of GoDaddy by 6.3% in the second quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock valued at $346,000 after purchasing an additional 148 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GDDY shares. Piper Sandler raised their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday. Raymond James raised their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Barclays lifted their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the sale, the chief executive officer now directly owns 345,956 shares of the company’s stock, valued at $58,047,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total value of $164,160.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the transaction, the chief executive officer now owns 345,956 shares of the company’s stock, valued at approximately $58,047,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,344 shares of company stock valued at $4,529,897 over the last ninety days. 0.61% of the stock is currently owned by insiders.

GoDaddy Stock Performance

NYSE:GDDY opened at $177.84 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 $159.96 and a two-hundred day simple moving average of $149.06. GoDaddy Inc. has a 1 year low of $86.11 and a 1 year high of $178.28. The company has a market capitalization of $24.97 billion, a P/E ratio of 13.74 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.

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.