GoDaddy Inc. (NYSE:GDDY) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC trimmed its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 92.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 253 shares of the technology company's stock after selling 3,181 shares during the period. Farther Finance Advisors LLC's holdings in GoDaddy were worth $46,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. City Holding Co. increased its position in GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after purchasing an additional 60 shares during the period. Range Financial Group LLC boosted its stake in shares of GoDaddy by 14.8% in the first quarter. Range Financial Group LLC now owns 2,541 shares of the technology company's stock valued at $458,000 after buying an additional 327 shares in the last quarter. OLD National Bancorp IN purchased a new stake in shares of GoDaddy in the first quarter valued at approximately $234,000. Wedmont Private Capital acquired a new position in GoDaddy during the first quarter worth $225,000. Finally, Sivia Capital Partners LLC raised its position in GoDaddy by 8.0% in the first quarter. Sivia Capital Partners LLC now owns 1,719 shares of the technology company's stock worth $310,000 after acquiring an additional 128 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Mark Mccaffrey sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $989,175.00. Following the completion of the sale, the chief financial officer now directly owns 115,375 shares in the company, valued at approximately $20,750,193.75. The trade was a 4.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $190.86, for a total value of $572,580.00. Following the sale, the chief executive officer now directly owns 440,947 shares in the company, valued at approximately $84,159,144.42. This represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,632 shares of company stock worth $12,602,635. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GDDY. Jefferies Financial Group decreased their price target on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. JPMorgan Chase & Co. raised their price target on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Piper Sandler boosted their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Citigroup lowered their price objective on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $214.86.

GoDaddy Stock Up 1.3%

Shares of NYSE GDDY traded up $2.39 on Tuesday, hitting $179.59. The company had a trading volume of 1,268,344 shares, compared to its average volume of 1,348,388. The firm has a market capitalization of $25.59 billion, a P/E ratio of 34.54 and a beta of 1.07. GoDaddy Inc. has a 12-month low of $138.22 and a 12-month high of $216.00. The business has a 50 day moving average of $181.02 and a two-hundred day moving average of $187.49. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period last year, the firm earned $2.76 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

GoDaddy 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.