Wright Investors Service Inc. Takes $806,000 Position in GoDaddy Inc. (NYSE:GDDY)

Wright Investors Service Inc. purchased a new position in GoDaddy Inc. (NYSE:GDDY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,142 shares of the technology company’s stock, valued at approximately $806,000.

Other large investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in GoDaddy during the 2nd quarter valued at approximately $28,000. ORG Partners LLC bought a new position in GoDaddy during the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC purchased a new stake in shares of GoDaddy during the 4th quarter valued at about $28,000. International Assets Investment Management LLC bought a new stake in shares of GoDaddy in the second quarter worth approximately $36,000. Finally, GAMMA Investing LLC raised its holdings in shares of GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

GoDaddy stock traded up $1.92 during midday trading on Friday, reaching $156.33. 679,364 shares of the stock traded hands, compared to its average volume of 1,517,694. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65. The stock’s fifty day moving average is $156.54 and its 200-day moving average is $141.56. The stock has a market cap of $22.31 billion, a P/E ratio of 12.98 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $0.63 EPS. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current year.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the transaction, the chief executive officer now owns 358,773 shares in the company, valued at $59,882,801.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the transaction, the chief executive officer now owns 358,773 shares in the company, valued at $59,882,801.43. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,744 shares of company stock valued at $4,950,771. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Benchmark upped their price target on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Barclays increased their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a research report on Monday, September 30th. Finally, B. Riley increased their price target on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $166.54.

GoDaddy Profile

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.