Quest Partners LLC Sells 3,986 Shares of GoDaddy Inc. (NYSE:GDDY)

Quest Partners LLC cut its position in shares of GoDaddy Inc. (NYSE:GDDY) by 40.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,902 shares of the technology company’s stock after selling 3,986 shares during the period. Quest Partners LLC’s holdings in GoDaddy were worth $925,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its stake in GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after buying an additional 6,424 shares in the last quarter. Highland Capital Management LLC acquired a new stake in GoDaddy in the 3rd quarter valued at $1,132,000. Plato Investment Management Ltd boosted its stake in GoDaddy by 2,471.0% in the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after buying an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after buying an additional 35,703 shares in the last quarter. Finally, Swedbank AB boosted its stake in GoDaddy by 3.5% in the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after buying an additional 5,247 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Activity at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were 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 owns 185,632 shares of the company’s stock, valued at $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 29,845 shares of company stock worth $4,803,380. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GDDY. Barclays boosted their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. B. Riley boosted their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird boosted their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday. 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Trading Up 1.4 %

Shares of GDDY opened at $190.11 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 12-month low of $92.45 and a 12-month high of $190.54. The firm has a market capitalization of $26.69 billion, a PE ratio of 14.69 and a beta of 1.11. The stock’s fifty day simple moving average is $164.16 and its 200-day simple moving average is $152.29.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (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 business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, research analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current year.

GoDaddy 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.