GoDaddy Inc. (NYSE:GDDY) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 237.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,340 shares of the technology company’s stock after acquiring an additional 57,951 shares during the period. QRG Capital Management Inc.’s holdings in GoDaddy were worth $12,909,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GDDY. Vanguard Group Inc. lifted its holdings in GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after acquiring an additional 379,228 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after purchasing an additional 1,775,708 shares during the period. Federated Hermes Inc. grew its stake in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after buying an additional 394,399 shares during the last quarter. Dimensional Fund Advisors LP increased its position in GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after buying an additional 235,934 shares during the period. Finally, Fiera Capital Corp lifted its stake in GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock valued at $115,725,000 after buying an additional 13,206 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $165.51 on Tuesday. The firm has a 50-day moving average of $159.21 and a two-hundred day moving average of $147.76. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of 12.79 and a beta of 1.11. The company has a current ratio of 0.56, a quick ratio of 0.48 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a twelve month low of $84.78 and a twelve month high of $171.93.

GoDaddy (NYSE:GDDY) last posted 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 company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company earned $0.89 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. As a group, analysts expect that GoDaddy Inc. will post 5.09 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Mark Mccaffrey sold 5,500 shares of the firm’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 completion of the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,744 shares of company stock valued at $4,089,571 over the last three months. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Robert W. Baird boosted their price objective on GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Barclays raised their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $171.38.

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.