Avestar Capital LLC Acquires 249 Shares of GoDaddy Inc. (NYSE:GDDY)

Avestar Capital LLC lifted its holdings in GoDaddy Inc. (NYSE:GDDY) by 13.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,110 shares of the technology company’s stock after purchasing an additional 249 shares during the period. Avestar Capital LLC’s holdings in GoDaddy were worth $331,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in GoDaddy during the third quarter worth approximately $106,000. Quantbot Technologies LP acquired a new stake in shares of GoDaddy in the third quarter worth $4,395,000. FMR LLC lifted its stake in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after buying an additional 274,014 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its holdings in shares of GoDaddy by 39.6% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock worth $9,410,000 after buying an additional 17,021 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in GoDaddy by 20.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 90,810 shares of the technology company’s stock valued at $14,237,000 after buying an additional 15,452 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $197.85 on Thursday. The firm has a market cap of $27.78 billion, a P/E ratio of 15.29 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a 50 day simple moving average of $169.35 and a 200 day simple moving average of $154.84. GoDaddy Inc. has a fifty-two week low of $96.42 and a fifty-two week high of $202.56.

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

Analyst Ratings Changes

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

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at $34,119,161.60. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,345 shares of company stock valued at $3,897,255. 0.61% of the stock is currently owned by 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.