GoDaddy Inc. (NYSE:GDDY) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 14.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,690 shares of the technology company’s stock after purchasing an additional 1,310 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in GoDaddy were worth $1,676,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meiji Yasuda Life Insurance Co bought a new stake in shares of GoDaddy in the first quarter worth $371,000. Motley Fool Asset Management LLC raised its stake in shares of GoDaddy by 8.6% in the 1st quarter. Motley Fool Asset Management LLC now owns 2,877 shares of the technology company’s stock valued at $341,000 after purchasing an additional 227 shares in the last quarter. LBP AM SA bought a new position in shares of GoDaddy during the first quarter worth about $3,021,000. iA Global Asset Management Inc. increased its holdings in GoDaddy by 7.6% in the first quarter. iA Global Asset Management Inc. now owns 2,653 shares of the technology company’s stock valued at $315,000 after buying an additional 187 shares during the last quarter. Finally, Plato Investment Management Ltd increased its holdings in GoDaddy by 2,471.0% in the first 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 during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Up 0.6 %

GDDY opened at $197.43 on Tuesday. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $27.72 billion, a PE ratio of 15.26 and a beta of 1.11. The stock’s fifty day moving average is $166.62 and its 200-day moving average is $153.61. GoDaddy Inc. has a one year low of $94.50 and a one year high of $200.16.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business earned $0.89 earnings per share. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities analysts predict that GoDaddy Inc. will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total transaction of $183,800.00. Following the transaction, the chief operating officer now owns 185,632 shares in the company, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. This trade represents a 2.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,845 shares of company stock worth $4,803,380 in the last ninety days. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on GDDY. Royal Bank of Canada lifted their target price on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Robert W. Baird upped their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Barclays upped their target price on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Benchmark raised their target price on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.31.

About GoDaddy

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.