American Trust Invests $267,000 in GoDaddy Inc. (NYSE:GDDY)

American Trust acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 2,250 shares of the technology company’s stock, valued at approximately $267,000.

Other institutional investors have also modified their holdings of the company. Fiera Capital Corp lifted its position in GoDaddy by 1.3% in the fourth quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock valued at $87,914,000 after acquiring an additional 10,312 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in GoDaddy in the fourth quarter valued at $4,204,000. CANADA LIFE ASSURANCE Co increased its stake in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after purchasing an additional 35,703 shares during the period. Plato Investment Management Ltd increased its stake 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 purchasing an additional 6,227 shares during the period. Finally, Forsta AP Fonden increased its stake in GoDaddy by 87.5% in the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after purchasing an additional 39,200 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $138.84, for a total value of $555,360.00. Following the sale, the chief operating officer now directly owns 196,632 shares in the company, valued at $27,300,386.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Roger Chen sold 4,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $138.84, for a total value of $555,360.00. Following the sale, the chief operating officer now directly owns 196,632 shares in the company, valued at $27,300,386.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 4,058 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total transaction of $542,514.02. Following the completion of the sale, the chief financial officer now owns 112,473 shares in the company, valued at $15,036,515.37. The disclosure for this sale can be found here. Insiders have sold 46,071 shares of company stock worth $6,385,206 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on GDDY. Piper Sandler lifted their price objective on shares of GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Evercore ISI boosted their price target on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. StockNews.com upgraded shares of GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, Benchmark reiterated a “buy” rating and set a $158.00 price target on shares of GoDaddy in a research note on Monday, July 29th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.75.

GoDaddy Price Performance

GDDY traded up $9.84 on Friday, hitting $151.25. 2,407,777 shares of the company were exchanged, compared to its average volume of 1,159,537. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. The business’s fifty day moving average is $141.77 and its 200 day moving average is $127.17. GoDaddy Inc. has a fifty-two week low of $69.18 and a fifty-two week high of $152.09. The firm has a market capitalization of $21.58 billion, a P/E ratio of 12.56 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.08. GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 4.81 EPS for the current year.

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.