Petra Financial Advisors Inc. Makes New $582,000 Investment in GoDaddy Inc. (NYSE:GDDY)

Petra Financial Advisors Inc. bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,714 shares of the technology company’s stock, valued at approximately $582,000.

Several other institutional investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in GoDaddy during the 2nd quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy during the third quarter valued at approximately $30,000. ORG Partners LLC bought a new stake in shares of GoDaddy in the 2nd quarter worth approximately $32,000. International Assets Investment Management LLC purchased a new stake in shares of GoDaddy in the 2nd quarter worth approximately $36,000. Finally, New Covenant Trust Company N.A. bought a new position in GoDaddy during the 1st quarter valued at approximately $45,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

Shares of GDDY stock traded up $7.26 on Thursday, reaching $168.86. The stock had a trading volume of 480,807 shares, compared to its average volume of 1,457,292. The stock has a market cap of $24.09 billion, a P/E ratio of 13.98 and a beta of 1.12. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. GoDaddy Inc. has a 1 year low of $72.14 and a 1 year high of $171.74. The company has a 50 day simple moving average of $159.08 and a 200 day simple moving average of $146.68.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. Equities research analysts expect that GoDaddy Inc. will post 5.07 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on GDDY. Royal Bank of Canada boosted their target price on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. B. Riley raised their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Piper Sandler upped their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Robert W. Baird raised their price target on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $168.69.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the company’s 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 sale, the chief operating officer now directly owns 186,632 shares in the company, valued at $30,637,509.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total transaction of $164,160.00. Following the sale, the chief operating officer now owns 186,632 shares in the company, valued at approximately $30,637,509.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,744 shares of company stock worth $4,089,571. Company insiders own 0.61% of the company’s stock.

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.