Gulf International Bank UK Ltd Cuts Position in GoDaddy Inc. (NYSE:GDDY)

Gulf International Bank UK Ltd decreased its position in GoDaddy Inc. (NYSE:GDDY) by 4.7% during the third quarter, Holdings Channel reports. The firm owned 9,736 shares of the technology company’s stock after selling 480 shares during the quarter. Gulf International Bank UK Ltd’s holdings in GoDaddy were worth $1,526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GDDY. Wealth Enhancement Advisory Services LLC increased its position in shares of GoDaddy by 60.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,459 shares of the technology company’s stock worth $529,000 after acquiring an additional 1,678 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of GoDaddy by 62.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,994 shares of the technology company’s stock worth $593,000 after acquiring an additional 1,919 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of GoDaddy during the first quarter worth $667,000. Sciencast Management LP purchased a new stake in shares of GoDaddy during the first quarter worth $312,000. Finally, Forsta AP Fonden increased its position in shares of GoDaddy by 87.5% during the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after acquiring an additional 39,200 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE GDDY opened at $177.25 on Friday. 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 Inc. has a 1 year low of $86.11 and a 1 year high of $177.77. The company has a market capitalization of $24.99 billion, a PE ratio of 13.70 and a beta of 1.11. The company has a fifty day moving average of $159.75 and a two-hundred day moving average of $148.49.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. GoDaddy’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GDDY shares. Benchmark upped their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. Royal Bank of Canada increased their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Piper Sandler increased their target price on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $171.38.

Insider Transactions at GoDaddy

In other news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction 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. This represents a 0.00 % 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. In other news, CAO Nick Daddario sold 684 shares of the stock in a transaction dated 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 sale, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. This represents a 0.00 % 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, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,344 shares of company stock worth $4,529,897. Company insiders own 0.61% of the company’s stock.

GoDaddy Company 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.