GoDaddy Inc. (NYSE:GDDY) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 719.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 538,514 shares of the technology company’s stock after purchasing an additional 472,805 shares during the period. National Bank of Canada FI owned approximately 0.38% of GoDaddy worth $97,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Cornerstone Planning Group LLC raised its holdings in shares of GoDaddy by 123.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company’s stock valued at $25,000 after buying an additional 79 shares during the period. Park Square Financial Group LLC purchased a new stake in shares of GoDaddy in the 1st quarter valued at $27,000. Private Trust Co. NA raised its holdings in shares of GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company’s stock valued at $29,000 after buying an additional 136 shares during the period. GW&K Investment Management LLC raised its holdings in shares of GoDaddy by 307.9% in the 1st quarter. GW&K Investment Management LLC now owns 257 shares of the technology company’s stock valued at $46,000 after buying an additional 194 shares during the period. Finally, City Holding Co. raised its holdings in shares of GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company’s stock valued at $47,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup cut their price objective on GoDaddy from $234.00 to $214.00 and set a “buy” rating on the stock in a report on Friday. Wall Street Zen downgraded GoDaddy from a “buy” rating to a “hold” rating in a report on Tuesday, May 13th. Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an “overweight” rating in a report on Friday. Royal Bank Of Canada cut their price objective on GoDaddy from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Benchmark reiterated a “buy” rating on shares of GoDaddy in a report on Monday, April 28th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.43.

GoDaddy Trading Down 11.2%

NYSE:GDDY opened at $133.38 on Friday. The stock has a 50-day simple moving average of $171.43 and a 200-day simple moving average of $179.84. The stock has a market cap of $19.01 billion, a P/E ratio of 23.82 and a beta of 1.08. GoDaddy Inc. has a 1 year low of $132.73 and a 1 year high of $216.00. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. GoDaddy had a return on equity of 188.09% and a net margin of 17.01%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. As a group, analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Phontip Palitwanon sold 2,173 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total transaction of $386,511.51. Following the completion of the transaction, the chief accounting officer directly owned 21,198 shares of the company’s stock, valued at approximately $3,770,488.26. This represents a 9.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $188.21, for a total value of $188,210.00. Following the completion of the sale, the chief operating officer directly owned 255,949 shares of the company’s stock, valued at approximately $48,172,161.29. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,257 shares of company stock valued at $5,827,280. 0.61% of the stock is owned by insiders.

About GoDaddy

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.