Redwood Investment Management LLC Purchases Shares of 2,982 GoDaddy Inc. (NYSE:GDDY)

Redwood Investment Management LLC bought a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,982 shares of the technology company's stock, valued at approximately $465,000.

A number of other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in GoDaddy in the third quarter valued at $27,000. ORG Wealth Partners LLC purchased a new stake in GoDaddy during the 3rd quarter valued at approximately $30,000. Transcendent Capital Group LLC acquired a new stake in GoDaddy during the 2nd quarter worth approximately $28,000. ORG Partners LLC acquired a new stake in GoDaddy during the 2nd quarter worth approximately $32,000. Finally, International Assets Investment Management LLC purchased a new position in shares of GoDaddy in the 2nd quarter valued at approximately $36,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $855,800.00. Following the sale, the chief financial officer now owns 93,102 shares of the company's stock, valued at $14,486,671.20. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 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. Insiders sold a total of 24,925 shares of company stock valued at $4,237,184 in the last ninety days. Corporate insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

GDDY has been the subject of several recent research reports. Piper Sandler increased their price target on GoDaddy from $172.00 to $176.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday. B. Riley lifted their target price on shares of GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $175.00 to $224.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Barclays lifted their price objective on GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $181.57.

GoDaddy Price Performance

GoDaddy stock traded down $1.98 during trading hours on Friday, hitting $206.56. The stock had a trading volume of 1,044,259 shares, compared to its average volume of 1,391,428. The stock has a market capitalization of $29.00 billion, a price-to-earnings ratio of 15.96 and a beta of 1.15. 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 Inc. has a 1-year low of $99.90 and a 1-year high of $210.30. The stock's fifty day moving average is $175.50 and its two-hundred day moving average is $157.95.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 EPS. As a group, analysts predict that GoDaddy Inc. will post 4.93 earnings per share for the current fiscal year.

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.