West Family Investments Inc. Takes $214,000 Position in GoDaddy Inc. (NYSE:GDDY)

West Family Investments Inc. purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,362 shares of the technology company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also modified their holdings of GDDY. Principal Financial Group Inc. grew its holdings in GoDaddy by 3.4% during the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after acquiring an additional 6,424 shares during the period. Highland Capital Management LLC acquired a new stake in shares of GoDaddy during the third quarter worth $1,132,000. Plato Investment Management Ltd increased its holdings in GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after purchasing an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after buying an additional 35,703 shares during the period. Finally, Swedbank AB boosted its holdings in GoDaddy by 3.5% during the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after buying an additional 5,247 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Insider Activity

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the completion of the sale, the chief operating officer now owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The trade was a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at approximately $16,686,868.50. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,845 shares of company stock valued at $4,803,380. 0.61% of the stock is owned by company insiders.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $187.46 on Wednesday. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50 day moving average price of $163.41 and a 200 day moving average price of $151.84. The stock has a market capitalization of $26.32 billion, a PE ratio of 14.49 and a beta of 1.11. GoDaddy Inc. has a 52 week low of $91.86 and a 52 week high of $190.21.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. Analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GDDY has been the subject of a number of recent analyst reports. Benchmark increased their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. B. Riley upped their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Raymond James boosted their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

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.