Qsemble Capital Management LP Purchases New Position in GoDaddy Inc. (NYSE:GDDY)

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of GoDaddy in the 3rd quarter valued at $27,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy during the second quarter worth about $28,000. ORG Wealth Partners LLC purchased a new position in shares of GoDaddy during the third quarter worth about $30,000. ORG Partners LLC acquired a new position in GoDaddy in the 2nd quarter valued at about $32,000. Finally, International Assets Investment Management LLC purchased a new stake in GoDaddy during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Buying and Selling at GoDaddy

In other news, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares in the company, valued at $2,783,599.92. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the sale, the chief operating officer now owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,845 shares of company stock worth $4,803,380. 0.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GDDY shares. Barclays lifted their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada boosted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Robert W. Baird boosted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler raised their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.31.

GoDaddy Stock Performance

GDDY opened at $197.43 on Tuesday. GoDaddy Inc. has a 1-year low of $94.50 and a 1-year high of $200.16. The stock has a market cap of $27.72 billion, a P/E ratio of 15.26 and a beta of 1.11. The stock’s 50 day simple moving average is $167.56 and its 200 day simple moving average is $154.07. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 earnings per share. As a group, equities analysts anticipate 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.