GoDaddy Inc. (NYSE:GDDY) Shares Purchased by State Street Corp

State Street Corp grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,892,134 shares of the technology company's stock after purchasing an additional 147,105 shares during the period. State Street Corp owned approximately 4.91% of GoDaddy worth $1,080,549,000 at the end of the most recent reporting period.

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

GoDaddy Trading Down 0.9 %

Shares of GDDY stock traded down $1.98 on Friday, reaching $206.56. 1,044,259 shares of the stock were exchanged, compared to its average volume of 1,391,428. 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 stock has a market cap of $29.00 billion, a P/E ratio of 15.96 and a beta of 1.15. The firm has a 50 day moving average of $175.50 and a two-hundred day moving average of $158.09. GoDaddy Inc. has a 1-year low of $99.90 and a 1-year high of $210.30.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.89 EPS. On average, research analysts anticipate that GoDaddy Inc. will post 4.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GDDY shares. Benchmark upped their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Royal Bank of Canada restated an "outperform" rating and set a $230.00 price objective (up from $190.00) on shares of GoDaddy in a research report on Wednesday. Robert W. Baird increased their target price on GoDaddy from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. StockNews.com cut GoDaddy from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th. Finally, B. Riley upped their price objective on GoDaddy from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, GoDaddy presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.57.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total value of $466,800.00. Following the completion of the transaction, the chief executive officer now directly owns 348,956 shares of the company's stock, valued at $54,297,553.60. This represents a 0.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,925 shares of company stock valued at $4,237,184. Company insiders own 0.61% of the company's stock.

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.