Pensionfund Sabic Takes $941,000 Position in GoDaddy Inc. (NYSE:GDDY)

Pensionfund Sabic acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 6,000 shares of the technology company’s stock, valued at approximately $941,000.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of GoDaddy during the fourth quarter worth $28,000. Transcendent Capital Group LLC purchased a new position in GoDaddy during the 2nd quarter valued at about $28,000. GAMMA Investing LLC grew its position in GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after acquiring an additional 133 shares in the last quarter. ORG Partners LLC purchased a new stake in GoDaddy during the second quarter worth about $32,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of GoDaddy during the second quarter worth about $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $172.00 price objective (up previously from $160.00) on shares of GoDaddy in a report on Monday, September 23rd. Royal Bank of Canada upped their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Raymond James lifted 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. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday. Finally, B. Riley increased their price target on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Six 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.54.

Insider Buying and Selling at GoDaddy

In other news, CFO Mark Mccaffrey sold 5,500 shares of the firm’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 owns 101,286 shares in the company, valued at approximately $16,686,868.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $585,920.00. Following the sale, the chief operating officer now directly owns 188,632 shares in the company, valued at $27,630,815.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,744 shares of company stock valued at $4,950,771 in the last ninety days. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.6 %

Shares of NYSE:GDDY opened at $162.10 on Friday. The firm has a 50 day simple moving average of $157.82 and a 200-day simple moving average of $142.66. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The company has a market capitalization of $22.85 billion, a PE ratio of 12.96 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts predict that GoDaddy Inc. will post 5.07 EPS for the current fiscal 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.