Investment Management Corp of Ontario Has $5.59 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Investment Management Corp of Ontario increased its stake in GoDaddy Inc. (NYSE:GDDY) by 177.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,627 shares of the technology company’s stock after purchasing an additional 22,790 shares during the period. Investment Management Corp of Ontario’s holdings in GoDaddy were worth $5,586,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GDDY. Principal Financial Group Inc. boosted its holdings in GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after buying an additional 6,424 shares during the last quarter. Highland Capital Management LLC bought a new position in shares of GoDaddy during the third quarter worth about $1,132,000. Swedbank AB raised its holdings in shares of GoDaddy by 3.5% in the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after purchasing an additional 5,247 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in GoDaddy by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after buying an additional 9,631 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd boosted its position in GoDaddy by 39.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after purchasing an additional 17,021 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Benchmark increased their target price on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. B. Riley boosted their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Finally, Royal Bank of Canada raised their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.31.

GoDaddy Stock Performance

NYSE GDDY opened at $198.35 on Wednesday. The company has a market cap of $27.85 billion, a P/E ratio of 15.33 and a beta of 1.15. The company has a fifty day simple moving average of $172.44 and a 200 day simple moving average of $156.76. GoDaddy Inc. has a 12-month low of $99.90 and a 12-month high of $202.56. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted $0.89 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. Sell-side analysts predict that GoDaddy Inc. will post 4.98 earnings per share for the current fiscal year.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the sale, the chief operating officer now owns 185,632 shares of the company’s stock, valued at $34,119,161.60. The trade was a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total value of $855,800.00. Following the transaction, the chief financial officer now directly owns 93,102 shares of the company’s stock, valued at $14,486,671.20. The trade was a 5.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,977 shares of company stock valued at $2,866,974 in the last three months. Company insiders own 0.61% of the company’s stock.

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.