Victory Capital Management Inc. Grows Position in GoDaddy Inc. (NYSE:GDDY)

Victory Capital Management Inc. grew its stake in GoDaddy Inc. (NYSE:GDDY) by 33.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 209,158 shares of the technology company’s stock after acquiring an additional 52,686 shares during the quarter. Victory Capital Management Inc. owned about 0.15% of GoDaddy worth $32,792,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after purchasing an additional 1,775,708 shares in the last quarter. Kodai Capital Management LP acquired a new stake in GoDaddy during the first quarter worth approximately $75,855,000. Federated Hermes Inc. grew its stake in GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after acquiring an additional 394,399 shares during the period. Wedge Capital Management L L P NC raised its holdings in GoDaddy by 2,279.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after acquiring an additional 384,386 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of GoDaddy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after purchasing an additional 379,228 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on GDDY shares. Royal Bank of Canada lifted their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Robert W. Baird upped their price target on shares of GoDaddy from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Finally, Benchmark increased their target price on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five investment 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.38.

GoDaddy Stock Down 1.3 %

Shares of NYSE:GDDY opened at $182.92 on Friday. The company has a market capitalization of $25.68 billion, a price-to-earnings ratio of 14.14 and a beta of 1.11. The company has a 50 day moving average of $162.76 and a two-hundred day moving average of $151.01. GoDaddy Inc. has a 52-week low of $91.68 and a 52-week high of $190.21. 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 (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the firm posted $0.89 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, analysts forecast that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction 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. Over the last 90 days, insiders have sold 28,844 shares of company stock worth $4,619,397. 0.61% of the stock is currently owned by corporate insiders.

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.