Fiera Capital Corp Sells 210,946 Shares of GoDaddy Inc. (NYSE:GDDY)

Fiera Capital Corp cut its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 25.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 617,380 shares of the technology company's stock after selling 210,946 shares during the period. Fiera Capital Corp owned approximately 0.44% of GoDaddy worth $96,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company's stock valued at $1,748,603,000 after buying an additional 379,228 shares during the period. Price T Rowe Associates Inc. MD increased its position in GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company's stock valued at $433,895,000 after purchasing an additional 1,775,708 shares during the period. Federated Hermes Inc. raised its stake in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company's stock worth $209,743,000 after buying an additional 394,399 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company's stock valued at $120,305,000 after purchasing an additional 235,934 shares in the last quarter. Finally, Kodai Capital Management LP bought a new stake in shares of GoDaddy during the 1st quarter valued at $75,855,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GDDY. Robert W. Baird upped their price objective on GoDaddy from $190.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Raymond James boosted their target price 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. Cantor Fitzgerald restated a "neutral" rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Benchmark upped their target price on GoDaddy from $186.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, B. Riley upped their target price on GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $171.38.

GoDaddy Stock Performance

Shares of NYSE GDDY traded up $0.51 during trading hours on Friday, hitting $177.82. 852,941 shares of the company's stock were exchanged, compared to its average volume of 1,462,763. The company's 50-day moving average price is $159.96 and its 200-day moving average price is $148.88. GoDaddy Inc. has a 1-year low of $86.11 and a 1-year high of $178.28. The stock has a market capitalization of $25.07 billion, a price-to-earnings ratio of 13.74 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.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy's revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. On average, sell-side analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the sale, the chief executive officer now directly owns 345,956 shares in the company, valued at approximately $58,047,957.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $167.79, for a total value of $503,370.00. Following the sale, the chief executive officer now directly owns 345,956 shares of the company's stock, valued at $58,047,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Nick Daddario sold 684 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 17,704 shares of the company's stock, valued at $2,783,599.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,344 shares of company stock valued at $4,529,897. 0.61% of the stock is owned by corporate insiders.

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.