8,700 Shares in GoDaddy Inc. $GDDY Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. purchased a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,700 shares of the technology company’s stock, valued at approximately $1,079,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. grew its position in GoDaddy by 4.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,887 shares of the technology company’s stock worth $258,000 after purchasing an additional 86 shares during the period. Clearstead Advisors LLC grew its position in GoDaddy by 0.9% during the 3rd quarter. Clearstead Advisors LLC now owns 12,324 shares of the technology company’s stock worth $1,686,000 after purchasing an additional 104 shares during the period. Main Street Financial Solutions LLC grew its position in GoDaddy by 1.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 12,136 shares of the technology company’s stock worth $2,185,000 after purchasing an additional 119 shares during the period. Martin Capital Advisors LLP grew its position in GoDaddy by 1.5% during the 4th quarter. Martin Capital Advisors LLP now owns 9,082 shares of the technology company’s stock worth $1,127,000 after purchasing an additional 130 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in GoDaddy by 18.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 832 shares of the technology company’s stock worth $103,000 after purchasing an additional 132 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

In related news, CAO Phontip Palitwanon sold 1,310 shares of GoDaddy stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total value of $118,096.50. Following the sale, the chief accounting officer directly owned 20,349 shares in the company, valued at approximately $1,834,462.35. The trade was a 6.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mccaffrey sold 17,406 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $88.99, for a total transaction of $1,548,959.94. Following the completion of the transaction, the chief financial officer directly owned 113,003 shares in the company, valued at $10,056,136.97. This trade represents a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 61,918 shares of company stock valued at $5,500,469. 0.93% of the stock is currently owned by corporate insiders.

GoDaddy Trading Up 4.8%

GDDY stock opened at $91.40 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 15.86. GoDaddy Inc. has a 12-month low of $73.06 and a 12-month high of $190.49. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.78 and a beta of 0.92. The business’s 50-day moving average is $84.73 and its 200 day moving average is $103.62.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. GoDaddy had a return on equity of 366.90% and a net margin of 17.32%.The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm posted $1.51 EPS. GoDaddy’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that GoDaddy Inc. will post 7.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Raymond James Financial restated a “strong-buy” rating and issued a $100.00 price target on shares of GoDaddy in a research note on Wednesday, February 25th. Piper Sandler began coverage on GoDaddy in a research report on Thursday, March 12th. They issued a “neutral” rating and a $93.00 price objective for the company. UBS Group started coverage on GoDaddy in a research note on Tuesday, May 5th. They set a “neutral” rating and a $100.00 target price for the company. Citigroup cut their price target on shares of GoDaddy from $195.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $120.57.

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.