Toronto Dominion Bank Increases Stake in GoDaddy Inc. (NYSE:GDDY)

Toronto Dominion Bank lifted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 441.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,183 shares of the technology company’s stock after acquiring an additional 61,308 shares during the quarter. Toronto Dominion Bank’s holdings in GoDaddy were worth $10,504,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in GoDaddy in the 2nd quarter valued at approximately $28,000. ORG Partners LLC purchased a new stake in shares of GoDaddy in the second quarter valued at approximately $32,000. V Square Quantitative Management LLC acquired a new position in GoDaddy during the fourth quarter worth $28,000. International Assets Investment Management LLC purchased a new position in GoDaddy in the second quarter worth $36,000. Finally, GAMMA Investing LLC lifted its holdings in GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the transaction, the chief operating officer now owns 192,632 shares in the company, valued at $26,928,027.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $559,160.00. Following the completion of the transaction, the chief operating officer now owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,744 shares of company stock worth $4,816,386. 0.61% of the stock is currently owned by company insiders.

GoDaddy Stock Performance

Shares of GDDY opened at $156.01 on Friday. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 12.96 and a beta of 1.13. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. GoDaddy Inc. has a 1 year low of $71.15 and a 1 year high of $167.65. The company’s 50 day simple moving average is $155.31 and its 200 day simple moving average is $139.98.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. GoDaddy’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. On average, sell-side analysts predict that GoDaddy Inc. will post 5.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GDDY. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Robert W. Baird lifted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a report on Monday, September 23rd. Benchmark lifted their price objective on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, Citigroup upped their target price on GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, May 31st. Six 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $166.54.

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.