Moors & Cabot Inc. bought a new stake in GoDaddy Inc. (NYSE:GDDY - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,580 shares of the technology company's stock, valued at approximately $404,000.
Several other large investors also recently bought and sold shares of GDDY. Price T Rowe Associates Inc. MD raised its position in 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 during the period. Kodai Capital Management LP purchased a new position in GoDaddy during the first quarter worth $75,855,000. Federated Hermes Inc. increased its position in 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 acquiring an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in shares of GoDaddy by 2,279.5% in 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 acquiring an additional 384,386 shares during the period. Finally, Mizuho Securities USA LLC lifted its holdings in shares of GoDaddy by 3,227.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company's stock worth $56,709,000 after acquiring an additional 350,839 shares during the last quarter. Institutional investors own 90.28% of the company's stock.
GoDaddy stock opened at $196.35 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm has a market cap of $27.57 billion, a P/E ratio of 15.17 and a beta of 1.11. The business has a fifty day moving average of $166.62 and a two-hundred day moving average of $153.30. GoDaddy Inc. has a twelve month low of $94.50 and a twelve month high of $196.71.
GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the business posted $0.89 EPS. The firm's quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts forecast that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.
In related news, CAO Nick Daddario sold 684 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the transaction, the chief accounting officer now directly owns 17,704 shares of the company's stock, valued at $2,783,599.92. This represents a 3.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the completion of the sale, the chief operating officer now directly owns 187,632 shares of the company's stock, valued at approximately $28,551,961.44. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,845 shares of company stock valued at $4,803,380 in the last 90 days. Insiders own 0.61% of the company's stock.
GDDY has been the subject of several analyst reports. Barclays raised their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 25th. Royal Bank of Canada boosted their price objective on GoDaddy from $175.00 to $190.00 and gave the company an "outperform" rating in a report on Friday, November 1st. StockNews.com lowered GoDaddy from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 8th. Cantor Fitzgerald reissued a "neutral" rating and set a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Finally, Piper Sandler raised their price target 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. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $173.31.
Read Our Latest Stock Analysis on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider GoDaddy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GoDaddy wasn't on the list.
While GoDaddy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.