Bank of Nova Scotia Has $37.85 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Bank of Nova Scotia reduced its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 53.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,757 shares of the technology company's stock after selling 224,180 shares during the quarter. Bank of Nova Scotia owned 0.14% of GoDaddy worth $37,847,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GDDY. Anchor Investment Management LLC acquired a new stake in shares of GoDaddy during the 3rd quarter valued at about $31,000. Versant Capital Management Inc acquired a new stake in GoDaddy during the fourth quarter valued at approximately $43,000. Rakuten Securities Inc. grew its stake in shares of GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after purchasing an additional 165 shares during the period. Friedenthal Financial acquired a new position in shares of GoDaddy in the 4th quarter worth approximately $49,000. Finally, OFI Invest Asset Management bought a new position in shares of GoDaddy during the 4th quarter worth approximately $52,000. 90.28% of the stock is owned by institutional investors.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $207.70, for a total transaction of $103,850.00. Following the transaction, the director now directly owns 22,621 shares of the company's stock, valued at $4,698,381.70. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $200.57, for a total transaction of $200,570.00. Following the completion of the sale, the chief operating officer now owns 183,632 shares of the company's stock, valued at approximately $36,831,070.24. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,000 shares of company stock worth $3,546,970. Insiders own 0.61% of the company's stock.

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Analyst Ratings Changes

A number of analysts have weighed in on GDDY shares. Benchmark upped their price target on GoDaddy from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Citigroup increased their target price on shares of GoDaddy from $240.00 to $251.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $224.00 to $231.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Wells Fargo & Company started coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on shares of GoDaddy from $227.00 to $228.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $212.20.

GoDaddy Trading Up 0.2 %

Shares of GDDY traded up $0.32 during trading hours on Monday, hitting $172.32. 491,650 shares of the stock traded hands, compared to its average volume of 1,552,859. The business has a fifty day moving average of $180.85 and a 200-day moving average of $185.53. The firm has a market capitalization of $24.36 billion, a PE ratio of 26.72 and a beta of 1.19. GoDaddy Inc. has a 1-year low of $119.76 and a 1-year high of $216.00. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.01). The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

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.