GoDaddy Inc. (NYSE:GDDY) Shares Bought by Vinva Investment Management Ltd

Vinva Investment Management Ltd raised its position in GoDaddy Inc. (NYSE:GDDY) by 22.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,734 shares of the technology company’s stock after acquiring an additional 22,929 shares during the quarter. GoDaddy makes up approximately 0.8% of Vinva Investment Management Ltd’s portfolio, making the stock its 17th biggest position. Vinva Investment Management Ltd’s holdings in GoDaddy were worth $19,303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after buying an additional 6,424 shares in the last quarter. Highland Capital Management LLC acquired a new position in shares of GoDaddy during the third quarter worth about $1,132,000. Plato Investment Management Ltd grew its position in shares of GoDaddy by 2,471.0% during the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after buying an additional 6,227 shares in the last quarter. Swedbank AB grew its position in shares of 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 in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after purchasing an additional 9,631 shares during the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on GDDY. Barclays boosted their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Raymond James boosted their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird boosted their price objective on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Piper Sandler boosted their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada boosted their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and an average target price of $173.31.

GoDaddy Stock Down 0.9 %

GoDaddy stock opened at $197.85 on Thursday. 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 firm has a market capitalization of $27.78 billion, a price-to-earnings ratio of 15.29 and a beta of 1.11. GoDaddy Inc. has a fifty-two week low of $96.42 and a fifty-two week high of $202.56. The stock’s fifty day moving average is $169.35 and its two-hundred day moving average is $154.84.

GoDaddy (NYSE:GDDY) last issued 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 return on equity of 267.29% and a net margin of 41.74%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business earned $0.89 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. Analysts predict that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the transaction, the chief executive officer now directly owns 358,773 shares in the company, valued at approximately $59,882,801.43. This represents a 0.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the transaction, the director now owns 24,121 shares in the company, valued at $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,345 shares of company stock worth $3,897,255 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

About GoDaddy

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.