Concentric Capital Strategies LP Acquires New Holdings in GoDaddy Inc. (NYSE:GDDY)

Concentric Capital Strategies LP bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,106 shares of the technology company’s stock, valued at approximately $2,839,000.

A number of other institutional investors have also made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in GoDaddy during the 3rd quarter worth about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of GoDaddy during the third quarter worth about $30,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy during the second quarter worth about $28,000. ORG Partners LLC purchased a new position in shares of GoDaddy in the second quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC acquired a new position in shares of GoDaddy in the second quarter valued at approximately $36,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares in the company, valued at approximately $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the transaction, the chief operating officer now owns 185,632 shares in the company, valued at $34,119,161.60. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,345 shares of company stock worth $3,396,525 in the last quarter. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on GDDY shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada upped their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. 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. Finally, B. Riley upped their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. 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. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and an average price target of $173.31.

GoDaddy Trading Up 0.0 %

Shares of GoDaddy stock opened at $197.62 on Tuesday. The company has a fifty day simple moving average of $171.63 and a 200-day simple moving average of $156.32. GoDaddy Inc. has a 12-month low of $99.90 and a 12-month high of $202.56. 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 has a market cap of $27.74 billion, a price-to-earnings ratio of 15.27 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data 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 net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts forecast that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

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.