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

Equitable Trust Co. raised its position in GoDaddy Inc. (NYSE:GDDY) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,435 shares of the technology company’s stock after buying an additional 107 shares during the quarter. Equitable Trust Co.’s holdings in GoDaddy were worth $1,322,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Western Pacific Wealth Management LP acquired a new position in shares of GoDaddy during the 3rd quarter worth $98,000. Principal Financial Group Inc. lifted its position in shares of GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after buying an additional 6,424 shares during the last quarter. Hanseatic Management Services Inc. lifted its position in shares of GoDaddy by 4.9% during the 3rd quarter. Hanseatic Management Services Inc. now owns 4,793 shares of the technology company’s stock worth $751,000 after buying an additional 224 shares during the last quarter. Amalgamated Bank lifted its position in shares of GoDaddy by 0.5% during the 3rd quarter. Amalgamated Bank now owns 30,595 shares of the technology company’s stock worth $4,797,000 after buying an additional 163 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of GoDaddy by 237.6% during the 3rd quarter. QRG Capital Management Inc. now owns 82,340 shares of the technology company’s stock worth $12,909,000 after buying an additional 57,951 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the sale, the chief executive officer now owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Nick Daddario sold 684 shares of the firm’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 sale, the chief accounting officer now 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the sale, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at $59,882,801.43. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,344 shares of company stock valued at $4,529,897. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

GDDY has been the subject of several recent analyst reports. Royal Bank of Canada upped their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Benchmark upped their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. B. Riley upped their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Raymond James increased their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $171.38.

GoDaddy Trading Up 0.3 %

Shares of GDDY stock opened at $177.84 on Friday. The stock has a market cap of $24.97 billion, a price-to-earnings ratio of 13.74 and a beta of 1.11. The stock has a 50-day moving average of $159.96 and a 200-day moving average of $149.06. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 1-year low of $86.11 and a 1-year high of $178.28.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, equities research analysts forecast 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.