Empowered Funds LLC Sells 664 Shares of GoDaddy Inc. (NYSE:GDDY)

Empowered Funds LLC cut its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,717 shares of the technology company’s stock after selling 664 shares during the period. Empowered Funds LLC’s holdings in GoDaddy were worth $6,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GDDY. Ashton Thomas Securities LLC purchased a new position in shares of GoDaddy during the 3rd quarter valued at $27,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy in the 2nd quarter valued at about $28,000. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy during the 3rd quarter valued at about $30,000. ORG Partners LLC bought a new stake in shares of GoDaddy during the 2nd quarter valued at about $32,000. Finally, International Assets Investment Management LLC purchased a new position in shares of GoDaddy during the second quarter worth about $36,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GoDaddy

In other news, CAO Nick Daddario sold 2,976 shares of GoDaddy stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now owns 14,728 shares in the company, valued at $2,232,912.08. This trade represents a 16.81 % 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 link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,844 shares of company stock worth $4,619,397. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

GDDY has been the subject of a number of research analyst reports. Robert W. Baird lifted their price objective on shares of GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Benchmark increased their price objective on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. B. Riley boosted their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Piper Sandler upped their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” 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 research report on Friday, November 8th. Five research 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 MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average price target of $171.38.

GoDaddy Stock Performance

Shares of GDDY stock opened at $182.92 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. GoDaddy Inc. has a 1 year low of $91.68 and a 1 year high of $190.21. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of 14.14 and a beta of 1.11. The business has a fifty day moving average of $162.76 and a 200 day moving average of $151.01.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share 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 the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. As a group, research analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current year.

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.