Metis Global Partners LLC Raises Stock Position in GoDaddy Inc. (NYSE:GDDY)

Metis Global Partners LLC lifted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 48.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,483 shares of the technology company’s stock after buying an additional 2,114 shares during the period. Metis Global Partners LLC’s holdings in GoDaddy were worth $1,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GDDY. Ashton Thomas Securities LLC acquired a new stake in GoDaddy in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy in the third quarter valued at about $30,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy in the second quarter valued at approximately $28,000. ORG Partners LLC acquired a new stake in shares of GoDaddy in the second quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC purchased a new position in shares of GoDaddy during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of a number of recent research reports. Piper Sandler upped their target price on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada boosted their target price on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. B. Riley increased their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Raymond James upped their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.38.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares in the company, valued at $28,551,961.44. This represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian Sharples sold 500 shares of the business’s stock in a transaction dated 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. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,844 shares of company stock valued at $4,619,397 in the last ninety days. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Performance

Shares of NYSE:GDDY opened at $182.92 on Monday. The company has a market cap of $25.68 billion, a P/E ratio of 14.14 and a beta of 1.11. GoDaddy Inc. has a one year low of $91.68 and a one year high of $190.21. The business’s 50-day simple moving average is $162.76 and its 200 day simple moving average is $151.21. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 earnings per share. On average, sell-side analysts forecast that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

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.