Vestcor Inc Acquires 28,762 Shares of GoDaddy Inc. (NYSE:GDDY)

Vestcor Inc increased its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 1,156.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,249 shares of the technology company's stock after acquiring an additional 28,762 shares during the period. Vestcor Inc's holdings in GoDaddy were worth $4,899,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in GoDaddy in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC bought a new stake in GoDaddy during the third quarter worth approximately $30,000. Transcendent Capital Group LLC acquired a new position in GoDaddy in the second quarter worth approximately $28,000. ORG Partners LLC bought a new position in shares of GoDaddy in the second quarter valued at $32,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of GoDaddy during the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on GDDY. Jefferies Financial Group upped their price target on shares of GoDaddy from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on GoDaddy from $175.00 to $224.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Cantor Fitzgerald reissued a "neutral" rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Benchmark raised their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, B. Riley increased their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $181.57.

GoDaddy Price Performance

Shares of NYSE:GDDY traded up $3.52 on Wednesday, hitting $208.37. The stock had a trading volume of 1,254,909 shares, compared to its average volume of 1,465,531. The firm's 50 day moving average price is $178.53 and its 200-day moving average price is $159.48. 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 twelve month low of $99.90 and a twelve month high of $210.30. The company has a market capitalization of $29.25 billion, a price-to-earnings ratio of 16.10 and a beta of 1.15.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results 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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 EPS. On average, equities research analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares of the company's stock, valued at $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the transaction, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,503 shares of company stock valued at $4,102,853. 0.61% of the stock is currently owned by corporate insiders.

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.