GoDaddy Inc. (NYSE:GDDY) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 36.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,098 shares of the technology company’s stock after acquiring an additional 2,948 shares during the quarter. iA Global Asset Management Inc.’s holdings in GoDaddy were worth $1,999,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GDDY. HighPoint Advisor Group LLC increased its stake in GoDaddy by 15.9% in the first quarter. HighPoint Advisor Group LLC now owns 2,134 shares of the technology company’s stock valued at $402,000 after purchasing an additional 293 shares during the period. Sowell Financial Services LLC acquired a new position in GoDaddy in the first quarter valued at $291,000. DAVENPORT & Co LLC increased its stake in GoDaddy by 7.7% in the first quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company’s stock valued at $354,000 after purchasing an additional 141 shares during the period. Optimist Retirement Group LLC increased its stake in GoDaddy by 5.8% in the first quarter. Optimist Retirement Group LLC now owns 1,522 shares of the technology company’s stock valued at $274,000 after purchasing an additional 84 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of GoDaddy by 13.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the technology company’s stock worth $1,060,000 after acquiring an additional 699 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other GoDaddy news, CAO Phontip Palitwanon sold 2,173 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the sale, the chief accounting officer owned 21,198 shares of the company’s stock, valued at $3,770,488.26. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,000 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $159.46, for a total transaction of $956,760.00. Following the completion of the sale, the chief executive officer directly owned 419,015 shares in the company, valued at $66,816,131.90. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,257 shares of company stock valued at $5,827,280 in the last quarter. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Citigroup lowered their price objective on GoDaddy from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of GoDaddy in a report on Monday, June 23rd. Benchmark reaffirmed a “buy” rating on shares of GoDaddy in a report on Monday, April 28th. Finally, Wall Street Zen lowered GoDaddy from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $214.86.

GoDaddy Stock Up 0.9%

GDDY stock opened at $154.74 on Thursday. The company has a market cap of $22.05 billion, a P/E ratio of 29.76 and a beta of 1.08. GoDaddy Inc. has a 52 week low of $148.55 and a 52 week high of $216.00. The company’s 50-day moving average price is $173.01 and its 200 day moving average price is $180.68. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91.

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.