GoDaddy Inc. (NYSE:GDDY) Shares Purchased by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd boosted its holdings in GoDaddy Inc. (NYSE:GDDY) by 39.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,022 shares of the technology company’s stock after acquiring an additional 17,021 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in GoDaddy were worth $9,410,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GDDY. Ashton Thomas Securities LLC purchased a new position in GoDaddy in the 3rd quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy in the second quarter valued at $28,000. ORG Wealth Partners LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth $30,000. ORG Partners LLC purchased a new stake in shares of GoDaddy in the 2nd quarter worth about $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of GoDaddy in the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $197.43 on Tuesday. The company has a market cap of $27.72 billion, a P/E ratio of 15.26 and a beta of 1.11. GoDaddy Inc. has a 12-month low of $94.50 and a 12-month high of $200.16. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The company’s fifty day moving average is $167.56 and its two-hundred day moving average is $154.07.

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. 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 period in the previous year, the company earned $0.89 EPS. The firm’s revenue was up 7.3% on a year-over-year basis. Equities analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the sale, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Nick Daddario sold 2,976 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.61, for a total transaction of $451,191.36. Following the sale, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. The trade was a 16.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,845 shares of company stock valued at $4,803,380 in the last three months. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Royal Bank of Canada lifted their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Piper Sandler upped their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Benchmark raised their price target on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays upped their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Five investment 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’s stock. According to data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy 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.