Harvest Fund Management Co. Ltd Has $1.68 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Harvest Fund Management Co. Ltd increased its position in GoDaddy Inc. (NYSE:GDDY) by 14.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,690 shares of the technology company’s stock after buying an additional 1,310 shares during the period. Harvest Fund Management Co. Ltd’s holdings in GoDaddy were worth $1,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC bought a new position in GoDaddy during the third quarter valued at about $233,000. Cerity Partners LLC raised its stake in shares of GoDaddy by 18.9% in the 3rd quarter. Cerity Partners LLC now owns 17,672 shares of the technology company’s stock valued at $2,771,000 after acquiring an additional 2,803 shares in the last quarter. Citigroup Inc. raised its stake in shares of GoDaddy by 26.5% in the 3rd quarter. Citigroup Inc. now owns 195,228 shares of the technology company’s stock valued at $30,608,000 after acquiring an additional 40,874 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in GoDaddy by 24.1% in the 3rd quarter. Pacer Advisors Inc. now owns 53,298 shares of the technology company’s stock worth $8,356,000 after purchasing an additional 10,345 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in GoDaddy by 5.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 39,785 shares of the technology company’s stock worth $6,237,000 after purchasing an additional 2,124 shares during the period. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

GDDY opened at $197.43 on Tuesday. The stock’s 50 day simple moving average is $166.62 and its 200-day simple moving average is $153.61. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a market cap of $27.72 billion, a PE ratio of 15.26 and a beta of 1.11. GoDaddy Inc. has a 1 year low of $94.50 and a 1 year high of $200.16.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GDDY shares. Piper Sandler boosted their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Robert W. Baird upped their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. B. Riley raised their price target on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Benchmark boosted their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Raymond James raised their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Five 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. According to MarketBeat, GoDaddy has an average rating of “Moderate Buy” and an average target price of $173.31.

Insider Buying and Selling

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 sale, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The trade was a 5.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00. Following the sale, the chief operating officer now owns 185,632 shares of the company’s stock, valued at $34,119,161.60. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,845 shares of company stock valued at $4,803,380 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

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.