CANADA LIFE ASSURANCE Co Trims Position in GoDaddy Inc. (NYSE:GDDY)

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 278,984 shares of the technology company’s stock after selling 1,412 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in GoDaddy were worth $54,994,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Barclays PLC grew its holdings in GoDaddy by 28.7% during the third quarter. Barclays PLC now owns 447,425 shares of the technology company’s stock worth $70,147,000 after acquiring an additional 99,734 shares during the period. Te Ahumairangi Investment Management Ltd grew its stake in shares of GoDaddy by 86.8% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 15,012 shares of the technology company’s stock worth $2,340,000 after purchasing an additional 6,974 shares during the period. Anchor Investment Management LLC purchased a new position in shares of GoDaddy during the 3rd quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB acquired a new position in shares of GoDaddy in the 3rd quarter valued at $922,000. Finally, Tidal Investments LLC boosted its holdings in GoDaddy by 38.7% during the third quarter. Tidal Investments LLC now owns 18,643 shares of the technology company’s stock worth $2,923,000 after buying an additional 5,205 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

GDDY opened at $171.55 on Friday. GoDaddy Inc. has a twelve month low of $119.76 and a twelve month high of $216.00. The firm has a market capitalization of $24.25 billion, a PE ratio of 26.60 and a beta of 1.19. The company has a current ratio of 0.72, a quick ratio of 0.56 and a debt-to-equity ratio of 5.46. The firm’s 50-day moving average price is $177.83 and its 200 day moving average price is $185.59.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.01). GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. As a group, sell-side analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on GDDY shares. UBS Group lifted their price objective on shares of GoDaddy from $172.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Morgan Stanley reduced their price target on GoDaddy from $228.00 to $206.00 and set an “equal weight” rating for the company in a report on Wednesday. Piper Sandler raised their price objective on GoDaddy from $176.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, February 14th. B. Riley upped their target price on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Raymond James lifted their price target on shares of GoDaddy from $185.00 to $230.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.73.

Insiders Place Their Bets

In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $194.28, for a total value of $194,280.00. Following the completion of the sale, the chief operating officer now owns 182,632 shares of the company’s stock, valued at $35,481,744.96. This represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $103,850.00. Following the sale, the director now owns 22,621 shares of the company’s stock, valued at $4,698,381.70. This represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,518,150 in the last three months. 0.61% of the stock is currently owned by insiders.

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.