TrinityPoint Wealth LLC Sells 57 Shares of GoDaddy Inc. (NYSE:GDDY)

TrinityPoint Wealth LLC trimmed its position in GoDaddy Inc. (NYSE:GDDY) by 3.4% during the third quarter, Holdings Channel reports. The firm owned 1,642 shares of the technology company’s stock after selling 57 shares during the quarter. TrinityPoint Wealth LLC’s holdings in GoDaddy were worth $257,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in GoDaddy in the third quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new stake in GoDaddy in the 2nd quarter valued at $28,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy during the 3rd quarter valued at $30,000. ORG Partners LLC bought a new position in GoDaddy during the second quarter worth $32,000. Finally, International Assets Investment Management LLC acquired a new position in shares of GoDaddy in the second quarter valued at $36,000. Institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In other GoDaddy news, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The trade was a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the transaction, the director now owns 24,121 shares of the company’s stock, valued at $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,844 shares of company stock worth $4,619,397 in the last ninety days. 0.61% of the stock is owned by insiders.

GoDaddy Price Performance

GDDY stock opened at $185.11 on Tuesday. The company’s 50-day moving average price is $162.76 and its two-hundred day moving average price is $151.41. GoDaddy Inc. has a 12 month low of $91.86 and a 12 month high of $190.21. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a market cap of $25.99 billion, a P/E ratio of 14.31 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. On average, analysts anticipate that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on GDDY. Piper Sandler raised their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Benchmark boosted their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. B. Riley increased their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Raymond James upped their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada lifted their target price on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Five investment 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 company. According to data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $171.38.

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.