Symmetry Partners LLC Purchases Shares of 1,668 GoDaddy Inc. (NYSE:GDDY)

Symmetry Partners LLC acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,668 shares of the technology company’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GDDY. Fiera Capital Corp lifted its position in shares of GoDaddy by 1.3% during the 4th quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock worth $87,914,000 after buying an additional 10,312 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in GoDaddy during the 4th quarter valued at approximately $4,204,000. Plato Investment Management Ltd boosted its position in shares of GoDaddy by 2,471.0% during the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after purchasing an additional 6,227 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after buying an additional 35,703 shares during the period. Finally, Forsta AP Fonden raised its holdings in shares of 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 during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

GoDaddy stock traded up $0.69 during midday trading on Friday, reaching $157.53. The stock had a trading volume of 762,696 shares, compared to its average volume of 1,618,521. The firm’s 50-day moving average price is $142.81 and its 200 day moving average price is $128.28. The firm has a market capitalization of $22.48 billion, a PE ratio of 13.08 and a beta of 1.14. GoDaddy Inc. has a 12 month low of $69.18 and a 12 month high of $158.09. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 363.95%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, research analysts predict that GoDaddy Inc. will post 4.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GDDY. William Blair reiterated an “outperform” rating on shares of GoDaddy in a report on Friday, May 3rd. Benchmark reissued a “buy” rating and set a $158.00 target price on shares of GoDaddy in a research report on Monday, July 29th. Royal Bank of Canada lifted their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Morgan Stanley increased their price objective on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Finally, Citigroup lifted their target price on GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.25.

Insider Activity at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 7,600 shares of GoDaddy stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $138.92, for a total transaction of $1,055,792.00. Following the completion of the sale, the chief executive officer now owns 369,898 shares of the company’s stock, valued at $51,386,230.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Amanpal Singh Bhutani sold 7,600 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $138.92, for a total transaction of $1,055,792.00. Following the transaction, the chief executive officer now directly owns 369,898 shares in the company, valued at approximately $51,386,230.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mark Mccaffrey sold 4,058 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total value of $542,514.02. Following the completion of the sale, the chief financial officer now owns 112,473 shares of the company’s stock, valued at approximately $15,036,515.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,071 shares of company stock valued at $7,410,566. Company insiders own 0.61% of the company’s stock.

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.