Intact Investment Management Inc. bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 400 shares of the technology company’s stock, valued at approximately $72,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. grew its position in shares of GoDaddy by 311.3% during the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company’s stock valued at $43,000 after acquiring an additional 165 shares during the period. City Holding Co. grew its position in shares of GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company’s stock valued at $47,000 after acquiring an additional 60 shares during the period. OFI Invest Asset Management bought a new position in shares of GoDaddy during the 4th quarter valued at approximately $52,000. Summit Securities Group LLC bought a new position in shares of GoDaddy during the 4th quarter valued at approximately $58,000. Finally, Physician Wealth Advisors Inc. bought a new position in shares of GoDaddy during the 4th quarter valued at approximately $67,000. 90.28% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on GDDY. Barclays reduced their target price on shares of GoDaddy from $243.00 to $235.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Jefferies Financial Group cut their price objective on shares of GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a report on Monday, April 7th. Citigroup cut their price objective on shares of GoDaddy from $260.00 to $234.00 and set a “buy” rating for the company in a report on Friday, April 25th. Benchmark reaffirmed a “buy” rating on shares of GoDaddy in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus target price of $214.86.
Insider Activity
In other news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $89,925.00. Following the sale, the director now owns 21,621 shares in the company, valued at approximately $3,888,536.85. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 37,500 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $180.95, for a total transaction of $6,785,625.00. Following the sale, the chief financial officer now owns 77,250 shares in the company, valued at approximately $13,978,387.50. This trade represents a 32.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,632 shares of company stock worth $12,602,635. 0.61% of the stock is currently owned by corporate insiders.
GoDaddy Stock Performance
NYSE GDDY opened at $174.70 on Monday. GoDaddy Inc. has a 1 year low of $136.75 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $24.89 billion, a PE ratio of 33.60 and a beta of 1.07. The company’s 50 day simple moving average is $180.84 and its two-hundred day simple moving average is $187.76.
GoDaddy (NYSE:GDDY – Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.76 EPS. Analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.
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.
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