Trust Asset Management LLC Purchases New Position in GoDaddy Inc. (NYSE:GDDY)

Trust Asset Management LLC bought a new position in GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 1,634 shares of the technology company’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in GoDaddy during the third quarter valued at $27,000. Transcendent Capital Group LLC bought a new stake in GoDaddy during the 2nd quarter valued at about $28,000. ORG Wealth Partners LLC bought a new position in GoDaddy in the 3rd quarter worth about $30,000. ORG Partners LLC purchased a new position in shares of GoDaddy during the second quarter worth approximately $32,000. Finally, International Assets Investment Management LLC bought a new stake in shares of GoDaddy in the second quarter valued at about $36,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Trading Up 0.9 %

GoDaddy stock traded up $1.69 during trading on Monday, hitting $198.04. The company had a trading volume of 30,894 shares, compared to its average volume of 1,449,328. 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’s 50 day simple moving average is $166.62 and its 200-day simple moving average is $153.61. GoDaddy Inc. has a 1-year low of $94.50 and a 1-year high of $198.26. The stock has a market cap of $27.80 billion, a price-to-earnings ratio of 15.17 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS. As a group, analysts expect that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the sale, the chief operating officer now directly owns 187,632 shares in the company, valued at approximately $28,551,961.44. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,845 shares of company stock valued at $4,803,380 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Benchmark increased their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Robert W. Baird increased their target price on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler increased their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $173.31.

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.