Lifeworks Advisors LLC Purchases New Position in GoDaddy Inc. (NYSE:GDDY)

Lifeworks Advisors LLC purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 22,138 shares of the technology company's stock, valued at approximately $3,471,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company's stock worth $433,895,000 after buying an additional 1,775,708 shares in the last quarter. Kodai Capital Management LP acquired a new stake in GoDaddy during the first quarter worth about $75,855,000. Federated Hermes Inc. increased its stake in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company's stock valued at $209,743,000 after buying an additional 394,399 shares during the period. Wedge Capital Management L L P NC raised its holdings in shares of GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company's stock worth $62,908,000 after purchasing an additional 384,386 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of GoDaddy by 2.6% in 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 purchasing an additional 379,228 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Buying and Selling

In related news, Director Brian Sharples sold 500 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the transaction, the director now directly owns 24,121 shares of the company's stock, valued at $4,317,659. This represents a 2.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Nick Daddario sold 2,976 shares of GoDaddy stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares of the company's stock, valued at approximately $2,232,912.08. This represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,844 shares of company stock valued at $4,619,397. 0.61% of the stock is owned by company insiders.

GoDaddy Trading Down 1.8 %

Shares of GoDaddy stock traded down $3.46 during trading on Thursday, reaching $185.28. The company's stock had a trading volume of 1,444,743 shares, compared to its average volume of 1,463,407. The company has a market cap of $26.01 billion, a price-to-earnings ratio of 14.32 and a beta of 1.11. GoDaddy Inc. has a 52-week low of $90.42 and a 52-week high of $190.21. 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 firm's 50-day moving average is $161.46 and its two-hundred day moving average is $150.36.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results 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. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period last year, the company posted $0.89 EPS. GoDaddy's revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of recent analyst reports. Barclays raised their price objective on GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a research note on Wednesday, September 25th. StockNews.com lowered GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. Cantor Fitzgerald reissued a "neutral" rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Royal Bank of Canada lifted their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, Raymond James raised their price target on GoDaddy from $150.00 to $175.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, GoDaddy presently has an average rating of "Moderate Buy" and a consensus target price of $171.38.

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.