Townsquare Capital LLC Cuts Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Townsquare Capital LLC cut its position in shares of GoDaddy Inc. (NYSE:GDDY) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,085 shares of the technology company’s stock after selling 819 shares during the quarter. Townsquare Capital LLC’s holdings in GoDaddy were worth $2,208,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in GoDaddy by 68.0% during the third quarter. BNP Paribas Financial Markets now owns 355,260 shares of the technology company’s stock valued at $55,698,000 after buying an additional 143,809 shares during the period. Avestar Capital LLC boosted its stake in GoDaddy by 13.4% in the third quarter. Avestar Capital LLC now owns 2,110 shares of the technology company’s stock worth $331,000 after buying an additional 249 shares in the last quarter. Brooklyn Investment Group bought a new stake in GoDaddy in the third quarter worth $106,000. Quantbot Technologies LP bought a new stake in GoDaddy in the third quarter valued at approximately $4,395,000. Finally, FMR LLC grew its position in shares of GoDaddy by 19.8% in the 3rd 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. 90.28% of the stock is owned by institutional investors.

GoDaddy Trading Down 0.1 %

NYSE:GDDY opened at $197.57 on Friday. The company has a market capitalization of $27.74 billion, a P/E ratio of 15.27 and a beta of 1.11. GoDaddy Inc. has a 52 week low of $98.13 and a 52 week high of $202.56. The stock’s 50 day moving average price is $170.85 and its 200 day moving average price is $155.74. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last released 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 company 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 firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. On average, research analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the sale, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at $59,882,801.43. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Nick Daddario sold 684 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 17,704 shares in the company, valued at $2,783,599.92. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,345 shares of company stock worth $3,897,255 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Piper Sandler boosted their price target on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Barclays increased their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.31.

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.