Caprock Group LLC Makes New $1.76 Million Investment in GoDaddy Inc. (NYSE:GDDY)

Caprock Group LLC bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,229 shares of the technology company’s stock, valued at approximately $1,760,000.

Several other institutional investors and hedge funds have also made changes to their positions in GDDY. Ashton Thomas Securities LLC purchased a new stake in shares of GoDaddy in the third quarter valued at $27,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy in the second quarter valued at $28,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy in the third quarter valued at $30,000. ORG Partners LLC purchased a new stake in shares of GoDaddy in the second quarter valued at $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of GoDaddy in the second quarter valued at $36,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GDDY. Royal Bank of Canada upped their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Piper Sandler increased their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Finally, B. Riley increased their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Price Performance

GDDY stock opened at $190.11 on Thursday. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. GoDaddy Inc. has a 1 year low of $92.45 and a 1 year high of $190.54. The firm has a market cap of $26.69 billion, a P/E ratio of 14.69 and a beta of 1.11. The stock has a 50-day simple moving average of $164.16 and a 200-day simple moving average of $152.29.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) 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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the sale, the chief operating officer now owns 185,632 shares in the company, valued at $34,119,161.60. This trade represents a 0.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total value of $107,545.32. Following the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,845 shares of company stock worth $4,803,380. 0.61% of the stock is currently owned by corporate insiders.

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.