QRG Capital Management Inc. Acquires 57,951 Shares of GoDaddy Inc. (NYSE:GDDY)

QRG Capital Management Inc. grew its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 237.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,340 shares of the technology company's stock after buying an additional 57,951 shares during the period. QRG Capital Management Inc. owned 0.06% of GoDaddy worth $12,909,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GDDY. Vanguard Group Inc. grew its holdings 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 worth $1,748,603,000 after buying an additional 379,228 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of GoDaddy by 94.4% in the first 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 shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company's stock worth $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 worth $120,305,000 after purchasing an additional 235,934 shares during the last quarter. Finally, Fiera Capital Corp increased its stake in GoDaddy by 1.6% in the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company's stock valued at $115,725,000 after buying an additional 13,206 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Nick Daddario sold 2,976 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total value of $451,191.36. Following the transaction, the chief accounting officer now directly owns 14,728 shares in the company, valued at approximately $2,232,912.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the business's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the sale, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Nick Daddario sold 2,976 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the transaction, the chief accounting officer now owns 14,728 shares of the company's stock, valued at $2,232,912.08. 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 28,744 shares of company stock worth $4,592,941. 0.61% of the stock is currently owned by company insiders.

GoDaddy Price Performance

GDDY stock traded up $2.12 on Tuesday, reaching $167.63. The company had a trading volume of 945,288 shares, compared to its average volume of 1,464,856. 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 Inc. has a 1 year low of $84.78 and a 1 year high of $171.93. The company's fifty day moving average is $159.21 and its 200 day moving average is $147.76. The company has a market cap of $23.63 billion, a P/E ratio of 12.95 and a beta of 1.11.

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 for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company posted $0.89 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts forecast that GoDaddy Inc. will post 5.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the topic of several analyst reports. Piper Sandler lifted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Benchmark lifted their price objective on GoDaddy from $186.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 31st. StockNews.com raised GoDaddy from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price target on GoDaddy from $175.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy currently has a consensus rating of "Moderate Buy" and an average target price of $171.38.

GoDaddy 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.