Public Employees Retirement Association of Colorado lessened its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,993 shares of the technology company’s stock after selling 2,973 shares during the period. Public Employees Retirement Association of Colorado’s holdings in GoDaddy were worth $1,747,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDDY. SG Americas Securities LLC lifted its stake in GoDaddy by 8.1% in the 2nd quarter. SG Americas Securities LLC now owns 10,708 shares of the technology company’s stock valued at $785,000 after acquiring an additional 799 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in GoDaddy by 1,888.0% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 105,364 shares of the technology company’s stock valued at $7,726,000 after acquiring an additional 100,064 shares in the last quarter. Three Peaks Capital Management LLC bought a new stake in GoDaddy in the 2nd quarter valued at approximately $203,000. Janney Montgomery Scott LLC lifted its stake in GoDaddy by 47.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 8,202 shares of the technology company’s stock valued at $601,000 after acquiring an additional 2,631 shares in the last quarter. Finally, Strs Ohio lifted its stake in GoDaddy by 18.5% in the 2nd quarter. Strs Ohio now owns 12,162 shares of the technology company’s stock valued at $891,000 after acquiring an additional 1,895 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.
GDDY stock opened at $75.99 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 4.85. The firm has a market capitalization of $12.83 billion, a PE ratio of -24.51, a PEG ratio of 2.87 and a beta of 0.93. GoDaddy Inc. has a 1-year low of $40.25 and a 1-year high of $89.00. The business’s 50 day simple moving average is $74.91 and its 200 day simple moving average is $75.53.
GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, November 4th. The technology company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. The business had revenue of $844.40 million for the quarter, compared to analyst estimates of $835.25 million. GoDaddy had a positive return on equity of 59.23% and a negative net margin of 15.67%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 EPS. As a group, sell-side analysts predict that GoDaddy Inc. will post 1.13 EPS for the current fiscal year.
In other GoDaddy news, CFO Raymond E. Winborne, Jr. sold 68,900 shares of the company’s stock in a transaction on Tuesday, November 17th. The stock was sold at an average price of $75.00, for a total value of $5,167,500.00. Following the transaction, the chief financial officer now directly owns 227,454 shares of the company’s stock, valued at approximately $17,059,050. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nima Kelly sold 4,375 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $86.96, for a total value of $380,450.00. Following the completion of the transaction, the insider now directly owns 113,788 shares in the company, valued at $9,895,004.48. The disclosure for this sale can be found here. Insiders have sold a total of 103,756 shares of company stock worth $7,898,099 over the last three months. 0.52% of the stock is owned by insiders.
Several research firms have commented on GDDY. Wedbush restated a “buy” rating on shares of GoDaddy in a research note on Friday, September 18th. Raymond James upgraded GoDaddy from an “outperform” rating to a “strong-buy” rating and set a $96.00 price objective on the stock in a research note on Thursday, August 6th. Truist Financial upped their price objective on GoDaddy from $88.00 to $95.00 in a research note on Thursday, August 6th. Piper Sandler upped their price objective on GoDaddy from $86.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on GoDaddy from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. GoDaddy presently has an average rating of “Buy” and an average target price of $92.87.
GoDaddy Inc designs and develops cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products such as web analytics, SSL certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.
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