Fiera Capital Corp Reduces Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Fiera Capital Corp lowered its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 25.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 617,380 shares of the technology company’s stock after selling 210,946 shares during the quarter. Fiera Capital Corp owned approximately 0.44% of GoDaddy worth $96,793,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Highland Capital Management LLC purchased a new stake in GoDaddy during the third quarter valued at approximately $1,132,000. Plato Investment Management Ltd increased its stake in shares of GoDaddy by 2,471.0% in the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after purchasing an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after purchasing an additional 35,703 shares during the period. Forsta AP Fonden lifted its position in GoDaddy by 87.5% during 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 in the last quarter. Finally, Swedbank AB grew its holdings in GoDaddy by 3.5% during the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after purchasing an additional 5,247 shares during the period. Institutional investors own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

GDDY has been the topic of several recent research reports. B. Riley raised their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Benchmark raised their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Piper Sandler increased their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird lifted their target price on shares of GoDaddy from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $171.38.

GoDaddy Price Performance

Shares of GoDaddy stock traded down $0.24 during trading hours on Friday, reaching $177.07. The company’s stock had a trading volume of 166,317 shares, compared to its average volume of 1,459,599. 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 $86.11 and a one year high of $177.77. The firm has a 50 day moving average price of $159.75 and a 200-day moving average price of $148.49. The stock has a market cap of $24.96 billion, a P/E ratio of 13.70 and a beta of 1.11.

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

Insider Buying and Selling

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the transaction, the chief executive officer now owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $164.16, for a total transaction of $164,160.00. Following the completion of the sale, the chief operating officer now owns 186,632 shares of the company’s stock, valued at approximately $30,637,509.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total value of $500,730.00. Following the completion of the transaction, the chief executive officer now directly owns 358,773 shares in the company, valued at approximately $59,882,801.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,344 shares of company stock worth $4,529,897 over the last three months. 0.61% of the stock is owned by insiders.

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.