GoDaddy Inc. (NYSE:GDDY) Stake Decreased by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,874 shares of the technology company’s stock after selling 72 shares during the period. Main Street Financial Solutions LLC’s holdings in GoDaddy were worth $1,548,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after buying an additional 1,775,708 shares during the period. Kodai Capital Management LP acquired a new position in shares of GoDaddy during the first quarter valued at approximately $75,855,000. Federated Hermes Inc. raised its holdings in GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in GoDaddy by 2,279.5% in the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after purchasing an additional 384,386 shares during the period. Finally, Vanguard Group Inc. boosted its stake in GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after purchasing an additional 379,228 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GDDY shares. 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. Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Raymond James lifted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird increased their target price on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $188.75 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a market cap of $26.50 billion, a price-to-earnings ratio of 14.59 and a beta of 1.11. The business has a fifty day simple moving average of $161.46 and a 200 day simple moving average of $150.36. GoDaddy Inc. has a 1 year low of $88.93 and a 1 year high of $190.21.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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%. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS. As a group, sell-side analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares in the company, valued at $4,317,659. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,844 shares of company stock worth $4,619,397. 0.61% of the stock is currently owned by insiders.

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.