Fmr LLC Has $260.30 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Fmr LLC grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 19.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,660,283 shares of the technology company’s stock after acquiring an additional 274,014 shares during the period. Fmr LLC’s holdings in GoDaddy were worth $260,299,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in GoDaddy during the 3rd quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new position in shares of GoDaddy during the second quarter valued at $28,000. ORG Wealth Partners LLC bought a new stake in shares of GoDaddy in the third quarter worth $30,000. ORG Partners LLC acquired a new stake in GoDaddy in the second quarter valued at $32,000. Finally, International Assets Investment Management LLC bought a new position in GoDaddy during the 2nd quarter worth $36,000. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GDDY shares. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. B. Riley boosted their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Finally, Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Stock Performance

Shares of GDDY opened at $197.57 on Monday. GoDaddy Inc. has a one year low of $98.13 and a one year high of $202.56. The company has a market cap of $27.74 billion, a PE ratio of 15.27 and a beta of 1.11. The stock has a 50-day moving average of $170.85 and a 200-day moving average of $155.88. 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 (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts predict that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the sale, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. The trade was a 0.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,345 shares of company stock worth $3,897,255. 0.61% of the stock is owned by corporate insiders.

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.