Connor Clark & Lunn Investment Management Ltd. Makes New Investment in GoDaddy Inc. (NYSE:GDDY)

Connor Clark & Lunn Investment Management Ltd. bought a new position in GoDaddy Inc. (NYSE:GDDY - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 45,705 shares of the technology company's stock, valued at approximately $7,166,000.

Other large investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company's stock worth $2,837,000 after acquiring an additional 67 shares during the period. Prime Capital Investment Advisors LLC raised its stake in shares of GoDaddy by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company's stock valued at $296,000 after purchasing an additional 73 shares during the period. Whittier Trust Co. raised its stake in shares of GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company's stock worth $249,000 after purchasing an additional 74 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in GoDaddy by 11.3% during the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company's stock valued at $153,000 after purchasing an additional 99 shares during the last quarter. Finally, Equitable Trust Co. increased its position in GoDaddy by 1.3% during the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company's stock worth $1,322,000 after buying an additional 107 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Trading Up 1.8 %

NYSE GDDY opened at $196.41 on Friday. The stock has a 50 day simple moving average of $165.74 and a two-hundred day simple moving average of $152.83. The stock has a market cap of $27.57 billion, a P/E ratio of 15.18 and a beta of 1.11. 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 Inc. has a fifty-two week low of $94.50 and a fifty-two week high of $196.71.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion during 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, analysts forecast that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the company's stock in a transaction that occurred 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 directly owns 24,121 shares in the company, valued at $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the transaction, the chief financial officer now owns 101,286 shares of the company's stock, valued at $16,686,868.50. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,845 shares of company stock valued at $4,803,380 over the last 90 days. Company insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GDDY shares. Royal Bank of Canada upped their target price on GoDaddy from $175.00 to $190.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Benchmark lifted 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. Barclays raised their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 25th. B. Riley lifted their price target on GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, Raymond James increased 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. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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.