GoDaddy Inc. (NYSE:GDDY) Shares Purchased by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 86.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 15,012 shares of the technology company's stock after purchasing an additional 6,974 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in GoDaddy were worth $2,340,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GDDY. Principal Financial Group Inc. increased its position in GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company's stock valued at $31,052,000 after buying an additional 6,424 shares in the last quarter. Highland Capital Management LLC acquired a new stake in GoDaddy in the 3rd quarter worth approximately $1,132,000. Swedbank AB grew its position in GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company's stock worth $21,425,000 after purchasing an additional 5,247 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in GoDaddy by 28.0% during the 3rd 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 raised its stake in GoDaddy by 39.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company's stock worth $9,410,000 after acquiring an additional 17,021 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

GoDaddy Trading Up 0.3 %

GoDaddy stock traded up $0.57 during trading on Thursday, reaching $208.91. 853,634 shares of the company were exchanged, compared to its average volume of 1,462,041. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The stock's 50 day simple moving average is $178.53 and its two-hundred day simple moving average is $159.48. The company has a market capitalization of $29.33 billion, a P/E ratio of 16.16 and a beta of 1.15. GoDaddy Inc. has a 52-week low of $99.90 and a 52-week high of $210.30.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The company's revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GDDY. StockNews.com lowered GoDaddy from a "strong-buy" rating to a "buy" rating in a report on Friday, November 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on shares of GoDaddy from $175.00 to $224.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Barclays upped their price target on GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Wednesday, September 25th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $181.57.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the business's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the sale, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm'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 transaction, the chief executive officer now owns 348,956 shares of the company's stock, valued at $54,297,553.60. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,503 shares of company stock worth $4,102,853 in the last 90 days. Insiders own 0.61% of the company's stock.

About GoDaddy

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.