PNC Financial Services Group Inc. Has $985,000 Stake in GoDaddy Inc. (NYSE:GDDY)

PNC Financial Services Group Inc. grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 18.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,285 shares of the technology company’s stock after buying an additional 986 shares during the period. PNC Financial Services Group Inc.’s holdings in GoDaddy were worth $985,000 as of its most recent filing with the SEC.

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

GoDaddy Stock Down 0.9 %

Shares of NYSE GDDY opened at $197.85 on Thursday. GoDaddy Inc. has a 12-month low of $96.42 and a 12-month high of $202.56. The firm’s 50-day simple moving average is $169.35 and its 200 day simple moving average is $154.84. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The company has a market cap of $27.78 billion, a price-to-earnings ratio of 15.29 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last announced its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 41.74% and a return on equity of 267.29%. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 earnings per share. On average, research analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares in the company, valued at $2,783,599.92. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the business’s 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 directly owns 185,632 shares of the company’s stock, valued at $34,119,161.60. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,345 shares of company stock worth $3,897,255. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of recent research reports. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Raymond James raised their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Benchmark lifted 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. Robert W. Baird increased their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.31.

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.