Pacer Advisors Inc. Boosts Stock Position in GoDaddy Inc. (NYSE:GDDY)

Pacer Advisors Inc. raised its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 24.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,298 shares of the technology company’s stock after buying an additional 10,345 shares during the quarter. Pacer Advisors Inc.’s holdings in GoDaddy were worth $8,356,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of GoDaddy during the third quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy in the 3rd quarter worth $30,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy in the second quarter worth $28,000. ORG Partners LLC bought a new position in GoDaddy during the 2nd quarter valued at about $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of GoDaddy during the 2nd quarter valued at about $36,000. 90.28% of the stock is owned by institutional investors.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the 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 transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,845 shares of company stock valued at $4,803,380. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Trading Up 1.7 %

Shares of GoDaddy stock opened at $196.35 on Friday. GoDaddy Inc. has a fifty-two week low of $94.50 and a fifty-two week high of $196.71. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $27.57 billion, a P/E ratio of 15.17 and a beta of 1.11. The company has a fifty day moving average of $166.62 and a 200 day moving average of $153.30.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business posted $0.89 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts anticipate that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Raymond James boosted their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. B. Riley lifted their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Benchmark increased their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $173.31.

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.