National Pension Service Increases Stake in GoDaddy Inc. (NYSE:GDDY)

National Pension Service increased its stake in GoDaddy Inc. (NYSE:GDDY) by 7.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,337 shares of the technology company’s stock after purchasing an additional 19,918 shares during the period. National Pension Service owned 0.20% of GoDaddy worth $45,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Highland Capital Management LLC purchased a new stake in GoDaddy in the third quarter valued at $1,132,000. Plato Investment Management Ltd boosted its stake in shares of GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after buying an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in GoDaddy by 20.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after acquiring an additional 35,703 shares during the period. Forsta AP Fonden raised its position in GoDaddy by 87.5% during the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after acquiring an additional 39,200 shares in the last quarter. Finally, Swedbank AB lifted its holdings in GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after acquiring an additional 5,247 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the sale, the chief executive officer now owns 345,956 shares in the company, valued at approximately $58,047,957.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $167.79, for a total value of $503,370.00. Following the completion of the sale, the chief executive officer now directly owns 345,956 shares in the company, valued at $58,047,957.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,744 shares of company stock worth $4,592,941. 0.61% of the stock is owned by insiders.

GoDaddy Stock Performance

NYSE GDDY opened at $175.77 on Thursday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a 1-year low of $86.02 and a 1-year high of $175.98. The company has a market cap of $24.78 billion, a PE ratio of 13.58 and a beta of 1.11. The stock’s 50 day simple moving average is $159.50 and its 200-day simple moving average is $148.29.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $0.89 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts anticipate that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Analyst Ratings Changes

GDDY has been the subject of several recent research reports. Royal Bank of Canada lifted their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. B. Riley increased their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Benchmark lifted their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

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.