Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Purchases Shares of 71,169 GoDaddy Inc. (NYSE:GDDY)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 71,169 shares of the technology company’s stock, valued at approximately $11,490,000.

Several other hedge funds have also made changes to their positions in the business. abrdn plc increased its position in GoDaddy by 100.4% during the third quarter. abrdn plc now owns 57,243 shares of the technology company’s stock worth $8,947,000 after purchasing an additional 28,672 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of GoDaddy by 25.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 29,074 shares of the technology company’s stock worth $4,558,000 after buying an additional 5,986 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of GoDaddy by 31.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,944 shares of the technology company’s stock worth $775,000 after buying an additional 1,187 shares during the period. Arkadios Wealth Advisors acquired a new position in GoDaddy in the third quarter valued at $206,000. Finally, Forsta AP Fonden grew its position in GoDaddy by 1.7% during the third quarter. Forsta AP Fonden now owns 66,400 shares of the technology company’s stock valued at $10,410,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity at GoDaddy

In related news, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $439,440.00. Following the sale, the chief executive officer now directly owns 362,398 shares in the company, valued at $53,084,059.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,744 shares of company stock valued at $5,114,931. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of several research analyst reports. B. Riley lifted their price objective on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Royal Bank of Canada boosted their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Benchmark reaffirmed a “buy” rating and set a $186.00 price target on shares of GoDaddy in a research report on Tuesday, October 15th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, GoDaddy currently has an average rating of “Moderate Buy” and a consensus price target of $166.54.

GoDaddy Stock Up 0.5 %

GDDY traded up $0.75 during trading on Wednesday, hitting $162.10. The company had a trading volume of 45,016 shares, compared to its average volume of 1,455,377. GoDaddy Inc. has a 1-year low of $72.14 and a 1-year high of $167.65. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The company has a market cap of $23.13 billion, a PE ratio of 13.40 and a beta of 1.12. The business has a 50-day moving average of $159.15 and a 200-day moving average of $146.57.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 EPS. As a group, analysts forecast that GoDaddy Inc. will post 5.07 earnings per share for the current year.

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.