BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 2,404 Shares of GoDaddy Inc. (NYSE:GDDY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in GoDaddy Inc. (NYSE:GDDY) by 9.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,517 shares of the technology company’s stock after selling 2,404 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in GoDaddy were worth $3,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Maverick Capital Ltd. lifted its holdings in shares of GoDaddy by 2.7% in the 3rd quarter. Maverick Capital Ltd. now owns 9,358 shares of the technology company’s stock valued at $1,467,000 after acquiring an additional 246 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in GoDaddy by 25.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 575,007 shares of the technology company’s stock valued at $90,150,000 after purchasing an additional 117,028 shares during the period. Vinva Investment Management Ltd lifted its stake in shares of GoDaddy by 22.7% in the 3rd quarter. Vinva Investment Management Ltd now owns 123,734 shares of the technology company’s stock valued at $19,303,000 after purchasing an additional 22,929 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of GoDaddy by 17.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after purchasing an additional 203,909 shares during the period. Finally, Glenmede Trust Co. NA increased its position in shares of GoDaddy by 41.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,086 shares of the technology company’s stock valued at $484,000 after purchasing an additional 902 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy 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 transaction, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 2,976 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.61, for a total value of $451,191.36. Following the sale, the chief accounting officer now owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. This represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,977 shares of company stock worth $2,866,974 over the last quarter. Insiders own 0.61% of the company’s stock.

GoDaddy Trading Up 0.4 %

NYSE GDDY opened at $198.35 on Wednesday. GoDaddy Inc. has a one year low of $99.90 and a one year high of $202.56. 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 company has a market capitalization of $27.85 billion, a price-to-earnings ratio of 15.33 and a beta of 1.15. The company’s 50-day simple moving average is $172.44 and its two-hundred day simple moving average is $156.76.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.15 billion during 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%. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Equities analysts forecast that GoDaddy Inc. will post 4.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GDDY shares. Royal Bank of Canada raised their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. B. Riley lifted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays upped their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Finally, Benchmark boosted their price objective on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.31.

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.