223,453 Shares in GoDaddy Inc. $GDDY Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new position in GoDaddy Inc. (NYSE:GDDY) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 223,453 shares of the technology company’s stock, valued at approximately $30,575,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of GoDaddy as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in GDDY. Vanguard Group Inc. raised its holdings in shares of GoDaddy by 0.8% during the third quarter. Vanguard Group Inc. now owns 18,912,182 shares of the technology company’s stock valued at $2,587,754,000 after purchasing an additional 150,045 shares during the last quarter. Geode Capital Management LLC boosted its holdings in GoDaddy by 2.2% in the second quarter. Geode Capital Management LLC now owns 3,779,220 shares of the technology company’s stock worth $677,726,000 after purchasing an additional 81,623 shares during the last quarter. WCM Investment Management LLC grew its position in GoDaddy by 1.8% in the 3rd quarter. WCM Investment Management LLC now owns 3,736,821 shares of the technology company’s stock worth $529,395,000 after purchasing an additional 66,144 shares during the period. JPMorgan Chase & Co. grew its position in GoDaddy by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,896,867 shares of the technology company’s stock worth $396,378,000 after purchasing an additional 53,811 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in GoDaddy by 2.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,403,902 shares of the technology company’s stock valued at $432,847,000 after buying an additional 54,438 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

NYSE GDDY opened at $80.84 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50. GoDaddy Inc. has a 12 month low of $73.06 and a 12 month high of $193.55. The stock has a market cap of $10.78 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 0.79 and a beta of 0.96. The company’s 50 day moving average is $98.21 and its two-hundred day moving average is $121.44.

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

Insider Activity

In related news, CFO Mark Mccaffrey sold 17,406 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $88.99, for a total value of $1,548,959.94. Following the completion of the transaction, the chief financial officer owned 113,003 shares of the company’s stock, valued at approximately $10,056,136.97. This represents a 13.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Phontip Palitwanon sold 1,310 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $90.15, for a total value of $118,096.50. Following the completion of the sale, the chief accounting officer owned 20,349 shares of the company’s stock, valued at $1,834,462.35. The trade was a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 61,918 shares of company stock worth $5,500,469. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on GDDY. Evercore set a $95.00 price target on GoDaddy in a report on Wednesday, February 25th. Cantor Fitzgerald reduced their price objective on GoDaddy from $130.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Citigroup lowered their target price on GoDaddy from $195.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Piper Sandler started coverage on GoDaddy in a research report on Thursday. They issued a “neutral” rating and a $93.00 target price on the stock. Finally, Benchmark cut their price target on GoDaddy from $240.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $125.57.

About GoDaddy

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.