GoDaddy Inc. (NYSE:GDDY) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,104 shares of the technology company's stock after selling 3,199 shares during the quarter. Daiwa Securities Group Inc.'s holdings in GoDaddy were worth $5,033,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. increased its position in shares of GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company's stock worth $31,052,000 after purchasing an additional 6,424 shares during the last quarter. Highland Capital Management LLC bought a new position in GoDaddy during the 3rd quarter worth approximately $1,132,000. Plato Investment Management Ltd lifted its position in GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company's stock valued at $769,000 after purchasing an additional 6,227 shares during the last quarter. Swedbank AB boosted its stake in shares of GoDaddy by 3.5% during the second quarter. Swedbank AB now owns 153,353 shares of the technology company's stock valued at $21,425,000 after purchasing an additional 5,247 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of GoDaddy by 28.0% in the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company's stock worth $6,907,000 after purchasing an additional 9,631 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GDDY. StockNews.com lowered shares of GoDaddy from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th. Robert W. Baird upped their target price on GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. B. Riley raised their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Royal Bank of Canada boosted their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Raymond James upped their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a "strong-buy" rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, GoDaddy has an average rating of "Moderate Buy" and a consensus target price of $173.31.

GoDaddy Stock Up 1.2 %

NYSE GDDY opened at $199.73 on Wednesday. The stock has a 50 day moving average price of $168.48 and a 200-day moving average price of $154.54. GoDaddy Inc. has a one year low of $94.50 and a one year high of $202.56. The company has a market capitalization of $28.04 billion, a P/E ratio of 15.44 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 (NYSE:GDDY - Get Free Report) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (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 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 for the quarter 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. As a group, equities analysts predict that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now directly owns 358,773 shares of the company's stock, valued at $59,882,801.43. This represents a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $855,800.00. Following the completion of the transaction, the chief financial officer now owns 93,102 shares in the company, valued at approximately $14,486,671.20. This trade represents a 5.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,345 shares of company stock valued at $3,897,255 in the last three months. Company insiders own 0.61% of the company's stock.

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.