Bank of Montreal Can Increases Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Bank of Montreal Can boosted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 57.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,415 shares of the technology company’s stock after acquiring an additional 78,129 shares during the quarter. Bank of Montreal Can owned 0.15% of GoDaddy worth $33,293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GDDY. Federated Hermes Inc. boosted its holdings in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after acquiring an additional 394,399 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of GoDaddy by 2,279.5% in the 3rd 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 period. Mizuho Securities USA LLC boosted its stake in shares of GoDaddy by 3,227.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after buying an additional 350,839 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of GoDaddy by 37.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after buying an additional 235,934 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of GoDaddy in the 2nd quarter valued at about $30,785,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction 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 sale, the chief operating officer now directly owns 185,632 shares in the company, valued at approximately $34,119,161.60. The trade was a 0.54 % 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 684 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the sale, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,345 shares of company stock valued at $3,897,255. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GDDY. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Barclays lifted their price objective on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Raymond James lifted their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Benchmark lifted their price objective on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Piper Sandler lifted their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note 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 issued a strong buy rating to the company. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average price target of $173.31.

GoDaddy Trading Down 0.9 %

NYSE:GDDY opened at $197.85 on Friday. The firm has a market cap of $27.78 billion, a P/E ratio of 15.29 and a beta of 1.11. 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’s 50 day simple moving average is $170.11 and its 200-day simple moving average is $155.14. GoDaddy Inc. has a 12-month low of $96.42 and a 12-month high of $202.56.

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, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. Equities analysts anticipate that GoDaddy Inc. will post 4.95 EPS 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.