Qsemble Capital Management LP Takes $2.61 Million Position in GoDaddy Inc. (NYSE:GDDY)

Qsemble Capital Management LP acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 16,663 shares of the technology company’s stock, valued at approximately $2,612,000.

A number of other hedge funds also recently bought and sold shares of the business. Federated Hermes Inc. grew its holdings in shares of GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares during the period. Dimensional Fund Advisors LP boosted its holdings in GoDaddy by 37.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after purchasing an additional 235,934 shares during the last quarter. Fiera Capital Corp grew its stake in shares of GoDaddy by 1.6% in the 2nd 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 period. Envestnet Asset Management Inc. increased its holdings in shares of GoDaddy by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 525,944 shares of the technology company’s stock worth $73,480,000 after buying an additional 11,121 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in shares of GoDaddy by 57.2% during the 2nd quarter. APG Asset Management N.V. now owns 499,990 shares of the technology company’s stock valued at $65,177,000 after buying an additional 181,944 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 subject of several analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Piper Sandler increased their price target on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. B. Riley boosted their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Raymond James upped their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Benchmark lifted 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. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the 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 Transactions at GoDaddy

In related news, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now owns 185,632 shares in the company, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,845 shares of company stock valued at $4,803,380. 0.61% of the stock is currently owned by corporate insiders.

GoDaddy Stock Performance

Shares of GDDY stock opened at $197.43 on Tuesday. The firm has a 50 day moving average of $167.56 and a two-hundred day moving average of $154.07. The stock has a market capitalization of $27.72 billion, a PE ratio of 15.26 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 52 week low of $94.50 and a 52 week high of $200.16.

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

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.