Pitcairn Co. Has $2.30 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Pitcairn Co. decreased its position in GoDaddy Inc. (NYSE:GDDY) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,689 shares of the technology company’s stock after selling 1,368 shares during the period. Pitcairn Co.’s holdings in GoDaddy were worth $2,303,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GDDY. Price T Rowe Associates Inc. MD increased its stake in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after buying an additional 1,775,708 shares during the last quarter. Kodai Capital Management LP bought a new position in shares of GoDaddy during the 1st quarter valued at approximately $75,855,000. Federated Hermes Inc. grew its position in shares of GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after acquiring an additional 394,399 shares during the period. Wedge Capital Management L L P NC grew its position in shares of GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after acquiring an additional 384,386 shares during the period. Finally, Mizuho Securities USA LLC grew its position in shares of GoDaddy by 3,227.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after acquiring an additional 350,839 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 1.7 %

GDDY opened at $196.35 on Friday. The company has a fifty day moving average price of $166.62 and a 200-day moving average price of $153.30. The firm has a market capitalization of $27.57 billion, a P/E ratio of 15.17 and a beta of 1.11. 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 Inc. has a one year low of $94.50 and a one year high of $196.71.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 EPS. Equities research analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

GDDY has been the subject of a number of research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark raised their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays lifted their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada lifted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

Insider Activity

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction 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. The trade was a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,845 shares of company stock worth $4,803,380 in the last three months. Corporate insiders own 0.61% of the company’s stock.

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.