Kapitalo Investimentos Ltda Acquires 2,603 Shares of GoDaddy Inc. (NYSE:GDDY)

Kapitalo Investimentos Ltda increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 155.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,280 shares of the technology company’s stock after purchasing an additional 2,603 shares during the period. Kapitalo Investimentos Ltda’s holdings in GoDaddy were worth $671,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GDDY. Price T Rowe Associates Inc. MD boosted its stake in shares of GoDaddy by 94.4% during the first 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 purchasing an additional 1,775,708 shares in the last quarter. Kodai Capital Management LP bought a new position in shares of GoDaddy during the first quarter valued at approximately $75,855,000. Federated Hermes Inc. boosted its stake in shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of GoDaddy by 2,279.5% during the third 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 purchasing an additional 384,386 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after purchasing an additional 379,228 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $585,920.00. Following the completion of the transaction, the chief operating officer now owns 188,632 shares of the company’s stock, valued at $27,630,815.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $585,920.00. Following the completion of the transaction, the chief operating officer now owns 188,632 shares of the company’s stock, valued at $27,630,815.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $439,440.00. Following the completion of the transaction, the chief executive officer now directly owns 362,398 shares of the company’s stock, valued at $53,084,059.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,744 shares of company stock valued at $4,950,771 over the last 90 days. Insiders own 0.61% of the company’s stock.

GoDaddy Trading Down 0.7 %

NYSE:GDDY opened at $162.89 on Wednesday. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65. The firm has a fifty day simple moving average of $158.62 and a 200-day simple moving average of $143.89. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The company has a market capitalization of $23.24 billion, a P/E ratio of 13.53 and a beta of 1.12.

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 the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that GoDaddy Inc. will post 5.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of recent research reports. Royal Bank of Canada increased their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Robert W. Baird raised their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Barclays raised their target price 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. B. Riley raised their target price on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Raymond James raised their target price on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $166.54.

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.