iA Global Asset Management Inc. Purchases 7,243 Shares of GoDaddy Inc. (NYSE:GDDY)

iA Global Asset Management Inc. lifted its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 298.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,666 shares of the technology company's stock after acquiring an additional 7,243 shares during the period. iA Global Asset Management Inc.'s holdings in GoDaddy were worth $1,515,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. 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 acquiring an additional 6,424 shares in the last quarter. Highland Capital Management LLC purchased a new position in GoDaddy during the third quarter valued at approximately $1,132,000. Swedbank AB grew its position in 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 in the last quarter. Crossmark Global Holdings Inc. grew its position in GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company's stock valued at $6,907,000 after purchasing an additional 9,631 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd grew its position in GoDaddy by 39.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company's stock valued at $9,410,000 after purchasing an additional 17,021 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

GoDaddy stock traded down $3.21 on Monday, hitting $203.35. The company's stock had a trading volume of 2,118,728 shares, compared to its average volume of 1,466,436. The firm has a market cap of $28.55 billion, a P/E ratio of 15.71 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a fifty day moving average price of $176.43 and a 200-day moving average price of $158.68. GoDaddy Inc. has a one year low of $99.90 and a one year high of $210.30.

GoDaddy (NYSE:GDDY - Get Free Report) last posted 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 business 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, equities analysts anticipate that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 770 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the sale, the chief accounting officer now directly owns 23,059 shares of the company's stock, valued at approximately $4,534,321.76. This represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 2,678 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $526,601.92. Following the completion of the transaction, the chief financial officer now owns 89,800 shares in the company, valued at approximately $17,658,272. This represents a 2.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,949 shares of company stock worth $3,785,993. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GDDY. Barclays boosted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $175.00 to $224.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Robert W. Baird lifted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Jefferies Financial Group lifted their target price on shares of GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $181.57.

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.