GAMMA Investing LLC Buys 756 Shares of GoDaddy Inc. (NYSE:GDDY)

GAMMA Investing LLC raised its holdings in GoDaddy Inc. (NYSE:GDDY) by 69.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,849 shares of the technology company’s stock after buying an additional 756 shares during the quarter. GAMMA Investing LLC’s holdings in GoDaddy were worth $290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Czech National Bank grew its holdings in GoDaddy by 6.9% in the 3rd quarter. Czech National Bank now owns 28,701 shares of the technology company’s stock valued at $4,500,000 after buying an additional 1,848 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in GoDaddy by 19.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 34,900 shares of the technology company’s stock valued at $5,472,000 after buying an additional 5,700 shares during the last quarter. Wright Investors Service Inc. acquired a new stake in GoDaddy in the 3rd quarter valued at approximately $806,000. Quent Capital LLC grew its holdings in GoDaddy by 68.4% in the 3rd quarter. Quent Capital LLC now owns 1,206 shares of the technology company’s stock valued at $189,000 after buying an additional 490 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in GoDaddy by 4.1% in the 3rd quarter. Park Avenue Securities LLC now owns 7,910 shares of the technology company’s stock valued at $1,240,000 after buying an additional 310 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $585,920.00. Following the completion of the transaction, the chief operating officer now directly owns 188,632 shares of the company’s stock, valued at approximately $27,630,815.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $439,440.00. Following the completion of the transaction, the chief executive officer now directly owns 362,398 shares of the company’s stock, valued at approximately $53,084,059.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $585,920.00. Following the completion of the sale, the chief operating officer now directly owns 188,632 shares of the company’s stock, valued at approximately $27,630,815.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,744 shares of company stock valued at $4,950,771. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GDDY. Royal Bank of Canada upped their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Robert W. Baird upped their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Barclays upped their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Benchmark upped their price objective on GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a report on Monday, August 26th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday. Six equities research 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 MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and an average price target of $166.54.

GoDaddy Stock Up 0.6 %

NYSE:GDDY opened at $162.10 on Friday. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $23.13 billion, a PE ratio of 13.46 and a beta of 1.12. GoDaddy Inc. has a 52-week low of $71.15 and a 52-week high of $167.65. The stock has a 50-day simple moving average of $157.82 and a 200 day simple moving average of $142.66.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, sell-side analysts expect that GoDaddy Inc. will post 5.06 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.