Cerity Partners LLC Grows Stake in GoDaddy Inc. (NYSE:GDDY)

Cerity Partners LLC boosted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 18.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,672 shares of the technology company’s stock after acquiring an additional 2,803 shares during the quarter. Cerity Partners LLC’s holdings in GoDaddy were worth $2,771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GDDY. Principal Financial Group Inc. lifted its stake in shares of GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after purchasing an additional 6,424 shares during the period. Highland Capital Management LLC bought a new position in GoDaddy in the third quarter worth approximately $1,132,000. Swedbank AB boosted its stake in shares of GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after acquiring an additional 5,247 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after acquiring an additional 9,631 shares during the period. Finally, QRG Capital Management Inc. increased its stake in shares of GoDaddy by 293.8% in the 2nd quarter. QRG Capital Management Inc. now owns 24,389 shares of the technology company’s stock worth $3,407,000 after purchasing an additional 18,195 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

NYSE GDDY opened at $197.57 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 $98.13 and a 1-year high of $202.56. The business has a 50 day simple moving average of $170.85 and a two-hundred day simple moving average of $155.74. The stock has a market capitalization of $27.74 billion, a PE ratio of 15.27 and a beta of 1.11.

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 analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm posted $0.89 earnings per share. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts predict that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling

In other GoDaddy news, CAO Nick Daddario sold 2,976 shares of GoDaddy stock in a transaction on Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the completion of the transaction, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at $2,232,912.08. The trade was a 16.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares in the company, 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. Over the last quarter, insiders sold 24,345 shares of company stock worth $3,897,255. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler boosted their price target on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a 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. B. Riley lifted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays increased their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada increased their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Five investment 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, the company presently has a consensus rating of “Moderate Buy” and an average 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.