Quantbot Technologies LP Buys New Shares in GoDaddy Inc. (NYSE:GDDY)

Quantbot Technologies LP acquired a new position in GoDaddy Inc. (NYSE:GDDY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 28,033 shares of the technology company’s stock, valued at approximately $4,395,000.

A number of other large investors have also recently made changes to their positions in GDDY. Federated Hermes Inc. increased its stake in shares of GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of GoDaddy by 2,279.5% during the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after buying an additional 384,386 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after buying an additional 350,839 shares in the last quarter. FMR LLC lifted its holdings in shares of GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after buying an additional 274,014 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after acquiring an additional 235,934 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the sale, the chief executive officer now directly owns 358,773 shares in the company, valued at $59,882,801.43. The trade was a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now owns 187,632 shares in the company, valued at approximately $28,551,961.44. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,345 shares of company stock worth $3,897,255. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Royal Bank of Canada lifted their price target 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 target price on shares of GoDaddy in a report on Monday, October 7th. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Benchmark upped their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Five equities research 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 company’s stock. Based on data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $173.31.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $199.73 on Wednesday. GoDaddy Inc. has a 52 week low of $94.50 and a 52 week high of $202.56. The company has a market capitalization of $28.04 billion, a PE ratio of 15.44 and a beta of 1.11. The stock’s fifty day moving average is $168.48 and its two-hundred day moving average is $154.54. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

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

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.