Worldquant Millennium Advisors LLC Takes Position in GoDaddy Inc. (NYSE:GDDY)

Worldquant Millennium Advisors LLC acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 118,647 shares of the technology company’s stock, valued at approximately $18,601,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its holdings in GoDaddy by 365.9% in the first quarter. Cetera Investment Advisers now owns 16,198 shares of the technology company’s stock worth $1,922,000 after purchasing an additional 12,721 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of GoDaddy by 16.0% during the 1st quarter. Cetera Advisors LLC now owns 7,755 shares of the technology company’s stock valued at $920,000 after acquiring an additional 1,068 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of GoDaddy by 32.2% during the 2nd quarter. Park Avenue Securities LLC now owns 7,600 shares of the technology company’s stock valued at $1,062,000 after acquiring an additional 1,853 shares during the last quarter. CWM LLC raised its stake in shares of GoDaddy by 4.5% in the 2nd quarter. CWM LLC now owns 5,875 shares of the technology company’s stock valued at $821,000 after acquiring an additional 252 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in GoDaddy by 293.8% during the second quarter. QRG Capital Management Inc. now owns 24,389 shares of the technology company’s stock worth $3,407,000 after purchasing an additional 18,195 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Down 1.0 %

Shares of GoDaddy stock opened at $206.53 on Friday. The company’s fifty day moving average price is $175.50 and its two-hundred day moving average price is $157.95. The firm has a market capitalization of $28.99 billion, a PE ratio of 15.96 and a beta of 1.15. GoDaddy Inc. has a 52-week low of $99.90 and a 52-week high of $210.30. 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 (NYSE:GDDY) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share. On average, analysts expect that GoDaddy Inc. will post 4.93 EPS for the current year.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $197.77, for a total transaction of $593,310.00. Following the completion of the sale, the chief executive officer now owns 342,956 shares in the company, valued at $67,826,408.12. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Nick Daddario sold 2,976 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the completion of the transaction, the chief accounting officer now owns 14,728 shares in the company, valued at approximately $2,232,912.08. This trade represents a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,925 shares of company stock worth $4,237,184 in the last 90 days. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of GoDaddy from $175.00 to $224.00 and gave the stock an “overweight” rating in a research note on Wednesday. Robert W. Baird boosted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. Piper Sandler boosted their price objective on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group raised their target price on GoDaddy from $170.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average price target of $181.57.

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.