Trust Asset Management LLC Invests $256,000 in GoDaddy Inc. (NYSE:GDDY)

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

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. B. Riley raised their price target on GoDaddy from $170.00 to $190.00 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 research report on Friday, November 8th. Robert W. Baird upped their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Raymond James upped their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.31.

GoDaddy Trading Up 0.9 %

Shares of GDDY traded up $1.69 during mid-day trading on Monday, reaching $198.04. The company had a trading volume of 30,894 shares, compared to its average volume of 1,449,328. The stock has a market cap of $27.80 billion, a price-to-earnings ratio of 15.17 and a beta of 1.11. 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 firm has a fifty day simple moving average of $166.62 and a 200-day simple moving average of $153.61. GoDaddy Inc. has a fifty-two week low of $94.50 and a fifty-two week high of $198.26.

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 analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for 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 firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. On average, sell-side analysts anticipate that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the transaction, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,845 shares of company stock worth $4,803,380. 0.61% of the stock is currently owned by company insiders.

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.