Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Takes $11.49 Million Position in GoDaddy Inc. (NYSE:GDDY)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,169 shares of the technology company’s stock, valued at approximately $11,490,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GDDY. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after buying an additional 67 shares during the period. Whittier Trust Co. grew its stake in shares of GoDaddy by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after purchasing an additional 74 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in shares of GoDaddy by 7.6% in the 3rd quarter. Atomi Financial Group Inc. now owns 1,861 shares of the technology company’s stock worth $292,000 after purchasing an additional 131 shares in the last quarter. Signaturefd LLC lifted its stake in GoDaddy by 6.3% during the second quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock valued at $346,000 after purchasing an additional 148 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in GoDaddy by 28.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 681 shares of the technology company’s stock worth $95,000 after buying an additional 152 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Robert W. Baird raised their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Royal Bank of Canada lifted their price target on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Finally, B. Riley boosted their price target on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $166.54.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $439,440.00. Following the transaction, the chief executive officer now directly owns 362,398 shares of the company’s stock, valued at $53,084,059.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares in the company, valued at approximately $16,686,868.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $439,440.00. Following the sale, the chief executive officer now directly owns 362,398 shares of the company’s stock, valued at approximately $53,084,059.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,744 shares of company stock worth $5,114,931 in the last three months. 0.61% of the stock is owned by insiders.

GoDaddy Stock Up 0.5 %

Shares of NYSE:GDDY traded up $0.75 during trading on Wednesday, reaching $162.10. 45,016 shares of the company traded hands, compared to its average volume of 1,455,377. The firm has a fifty day simple moving average of $159.15 and a 200 day simple moving average of $146.57. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy Inc. has a 1-year low of $72.14 and a 1-year high of $167.65. The firm has a market cap of $23.13 billion, a P/E ratio of 13.40 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business posted $0.63 EPS. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts anticipate that GoDaddy Inc. will post 5.07 earnings per share for the current fiscal year.

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.