8,700 Shares in GoDaddy Inc. $GDDY Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. acquired a new position in GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,700 shares of the technology company’s stock, valued at approximately $1,079,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GDDY. Sivia Capital Partners LLC grew its stake in GoDaddy by 90.3% in the second quarter. Sivia Capital Partners LLC now owns 3,271 shares of the technology company’s stock worth $589,000 after purchasing an additional 1,552 shares in the last quarter. Cerity Partners LLC grew its stake in GoDaddy by 50.0% in the second quarter. Cerity Partners LLC now owns 27,189 shares of the technology company’s stock worth $4,896,000 after purchasing an additional 9,062 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in GoDaddy by 83.0% in the second quarter. Treasurer of the State of North Carolina now owns 155,593 shares of the technology company’s stock worth $28,016,000 after purchasing an additional 70,585 shares in the last quarter. Osterweis Capital Management Inc. bought a new position in GoDaddy in the second quarter worth approximately $152,000. Finally, Main Street Financial Solutions LLC boosted its position in GoDaddy by 1.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock valued at $2,185,000 after acquiring an additional 119 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GDDY. Barclays dropped their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. dropped their target price on GoDaddy from $167.00 to $154.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Piper Sandler began coverage on GoDaddy in a research report on Thursday, March 12th. They set a “neutral” rating and a $93.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GoDaddy in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group dropped their target price on GoDaddy from $140.00 to $100.00 and set a “hold” rating on the stock in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.57.

GoDaddy Stock Performance

Shares of GDDY opened at $91.40 on Tuesday. GoDaddy Inc. has a 12 month low of $73.06 and a 12 month high of $190.49. The stock has a fifty day moving average price of $84.73 and a 200-day moving average price of $103.62. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. The firm has a market cap of $12.10 billion, a PE ratio of 14.46, a P/E/G ratio of 0.78 and a beta of 0.92.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business posted $1.51 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts predict that GoDaddy Inc. will post 7.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Phontip Palitwanon sold 1,310 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total transaction of $118,096.50. Following the completion of the sale, the chief accounting officer owned 20,349 shares in the company, valued at approximately $1,834,462.35. This represents a 6.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 34,148 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total value of $3,038,830.52. Following the completion of the transaction, the chief executive officer owned 530,120 shares of the company’s stock, valued at $47,175,378.80. This trade represents a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 61,918 shares of company stock worth $5,500,469. 0.93% of the stock is currently owned by company insiders.

About GoDaddy

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.