GoDaddy Inc. (NYSE:GDDY) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its holdings in GoDaddy Inc. (NYSE:GDDY) by 9.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 32,104 shares of the technology company’s stock after selling 3,199 shares during the period. Daiwa Securities Group Inc.’s holdings in GoDaddy were worth $5,033,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Kingsview Wealth Management LLC acquired a new stake in shares of GoDaddy during the 3rd quarter worth $233,000. Cerity Partners LLC increased its stake in GoDaddy by 18.9% during the third quarter. Cerity Partners LLC now owns 17,672 shares of the technology company’s stock worth $2,771,000 after acquiring an additional 2,803 shares during the last quarter. Citigroup Inc. raised its holdings in shares of GoDaddy by 26.5% in the 3rd quarter. Citigroup Inc. now owns 195,228 shares of the technology company’s stock worth $30,608,000 after purchasing an additional 40,874 shares during the period. Pacer Advisors Inc. raised its holdings in shares of GoDaddy by 24.1% in the 3rd quarter. Pacer Advisors Inc. now owns 53,298 shares of the technology company’s stock worth $8,356,000 after purchasing an additional 10,345 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of GoDaddy by 5.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 39,785 shares of the technology company’s stock worth $6,237,000 after purchasing an additional 2,124 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the topic of several research reports. Royal Bank of Canada raised their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Piper Sandler upped their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Raymond James raised their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $173.31.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction on 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 $4,317,659. The trade was a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the transaction, the chief operating officer now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 24,345 shares of company stock worth $3,897,255. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 1.2 %

GDDY stock opened at $199.73 on Wednesday. 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 firm has a 50 day simple moving average of $168.48 and a 200-day simple moving average of $154.54. The company has a market capitalization of $28.04 billion, a P/E ratio of 15.44 and a beta of 1.11. GoDaddy Inc. has a twelve month low of $94.50 and a twelve month high of $202.56.

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