Optimist Retirement Group LLC Sells 251 Shares of GoDaddy Inc. (NYSE:GDDY)

Optimist Retirement Group LLC lowered its position in GoDaddy Inc. (NYSE:GDDY) by 14.0% during the 3rd quarter, Holdings Channel reports. The fund owned 1,536 shares of the technology company’s stock after selling 251 shares during the period. Optimist Retirement Group LLC’s holdings in GoDaddy were worth $241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in GoDaddy in the third quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy during the third quarter valued at approximately $30,000. Transcendent Capital Group LLC purchased a new position in GoDaddy in the second quarter worth $28,000. Anchor Investment Management LLC purchased a new position in GoDaddy in the third quarter worth $31,000. Finally, ORG Partners LLC bought a new stake in shares of GoDaddy in the second quarter valued at $32,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GDDY traded down $1.70 during midday trading on Thursday, reaching $206.64. The stock had a trading volume of 73,757 shares, compared to its average volume of 1,459,671. The company’s 50-day moving average is $178.53 and its 200 day moving average is $159.48. GoDaddy Inc. has a 12-month low of $99.90 and a 12-month high of $210.30. 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 company has a market capitalization of $29.01 billion, a price-to-earnings ratio of 16.10 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last issued its 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%. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS. On average, equities analysts predict that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total transaction of $593,310.00. Following the sale, the chief executive officer now directly owns 342,956 shares in the company, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Phontip Palitwanon sold 1,554 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $203.90, for a total value of $316,860.60. Following the sale, the chief accounting officer now owns 21,505 shares in the company, valued at approximately $4,384,869.50. This represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,503 shares of company stock valued at $4,102,853 in the last 90 days. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on GoDaddy from $175.00 to $224.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Benchmark boosted their price objective on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price objective on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $181.57.

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.