Victory Capital Management Inc. Has $100.63 Million Stock Position in GoDaddy Inc. $GDDY

Victory Capital Management Inc. increased its stake in GoDaddy Inc. (NYSE:GDDY) by 318.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 735,452 shares of the technology company’s stock after purchasing an additional 559,757 shares during the quarter. Victory Capital Management Inc. owned approximately 0.54% of GoDaddy worth $100,632,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Strive Asset Management LLC purchased a new position in shares of GoDaddy in the third quarter worth approximately $20,493,000. Elo Mutual Pension Insurance Co boosted its stake in GoDaddy by 53.5% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 26,264 shares of the technology company’s stock worth $3,594,000 after purchasing an additional 9,155 shares during the period. American Century Companies Inc. grew its position in GoDaddy by 130.5% during the 3rd quarter. American Century Companies Inc. now owns 151,432 shares of the technology company’s stock worth $20,720,000 after purchasing an additional 85,733 shares in the last quarter. Aster Capital Management DIFC Ltd raised its stake in GoDaddy by 184.4% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 2,668 shares of the technology company’s stock valued at $365,000 after purchasing an additional 1,730 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in GoDaddy by 23.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 42,500 shares of the technology company’s stock valued at $5,815,000 after purchasing an additional 8,200 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other GoDaddy news, CAO Phontip Palitwanon sold 2,397 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $128.44, for a total value of $307,870.68. Following the completion of the sale, the chief accounting officer owned 17,055 shares of the company’s stock, valued at $2,190,544.20. The trade was a 12.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leah Sweet sold 650 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $86.86, for a total value of $56,459.00. Following the transaction, the director directly owned 11,414 shares in the company, valued at approximately $991,420.04. This represents a 5.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is owned by company insiders.

GoDaddy Price Performance

NYSE GDDY opened at $88.78 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 17.50. The stock has a market capitalization of $12.00 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.82 and a beta of 0.96. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $193.55. The company has a 50 day moving average price of $102.57 and a two-hundred day moving average price of $123.63.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.22. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. GoDaddy had a net margin of 17.67% and a return on equity of 369.00%. GoDaddy’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. As a group, equities analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on GDDY shares. UBS Group decreased their target price on GoDaddy from $145.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Barclays decreased their price objective on GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 target price on shares of GoDaddy in a report on Wednesday, February 25th. Cantor Fitzgerald reduced their price target on shares of GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Finally, Citigroup lowered their price objective on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.93.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.