Victory Capital Management Inc. Has $32.79 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Victory Capital Management Inc. boosted its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 33.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 209,158 shares of the technology company's stock after purchasing an additional 52,686 shares during the period. Victory Capital Management Inc. owned approximately 0.15% of GoDaddy worth $32,792,000 as of its most recent SEC filing.

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

GoDaddy Stock Down 1.3 %

Shares of GDDY traded down $2.37 during mid-day trading on Friday, hitting $182.92. 1,354,914 shares of the company's stock were exchanged, compared to its average volume of 1,195,165. 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 $25.68 billion, a price-to-earnings ratio of 14.14 and a beta of 1.11. GoDaddy Inc. has a twelve month low of $91.68 and a twelve month high of $190.21. The firm has a fifty day moving average of $162.76 and a two-hundred day moving average of $151.21.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.15 billion during 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%. GoDaddy's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 earnings per share. On average, sell-side analysts forecast that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GDDY shares. Raymond James lifted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 2nd. Robert W. Baird boosted their target price on GoDaddy from $190.00 to $200.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Barclays upped their target price on GoDaddy from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Benchmark lifted their price target on GoDaddy from $186.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada upped their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $171.38.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now owns 358,773 shares of the company's stock, valued at approximately $59,882,801.43. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $89,500.00. Following the sale, the director now directly owns 24,121 shares of the company's stock, valued at approximately $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,844 shares of company stock worth $4,619,397. Insiders own 0.61% of the company's stock.

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.