Dai ichi Life Insurance Company Ltd increased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 39.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,022 shares of the technology company's stock after acquiring an additional 17,021 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in GoDaddy were worth $9,410,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of GoDaddy in the 3rd quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy in the 2nd quarter valued at approximately $28,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy in the 3rd quarter valued at $30,000. ORG Partners LLC purchased a new stake in shares of GoDaddy during the 2nd quarter worth $32,000. Finally, International Assets Investment Management LLC acquired a new position in shares of GoDaddy during the second quarter worth $36,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
GDDY has been the topic of a number of analyst reports. Piper Sandler raised their price target on GoDaddy from $172.00 to $176.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Cantor Fitzgerald restated a "neutral" rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Royal Bank of Canada increased their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Raymond James boosted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 2nd. Finally, Benchmark boosted their target price on GoDaddy from $186.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $173.31.
View Our Latest Stock Report on GDDY
GoDaddy Price Performance
Shares of NYSE GDDY traded up $3.44 during trading on Tuesday, hitting $200.87. 958,979 shares of the company were exchanged, compared to its average volume of 1,459,274. The firm's fifty day moving average price is $167.56 and its 200 day moving average price is $154.07. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $28.20 billion, a price-to-earnings ratio of 15.59 and a beta of 1.11. GoDaddy Inc. has a 1 year low of $94.50 and a 1 year high of $202.56.
GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.89 earnings per share. On average, sell-side analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.
Insider Buying and Selling
In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the firm's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction 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 approximately $16,686,868.50. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Nick Daddario sold 684 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at approximately $2,783,599.92. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,845 shares of company stock valued at $4,803,380. 0.61% of the stock is owned by insiders.
GoDaddy Profile
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Free Report)
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.
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