Chapin Davis Inc. Takes $4.31 Million Position in GoDaddy Inc. (NYSE:GDDY)

Chapin Davis Inc. bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,462 shares of the technology company’s stock, valued at approximately $4,305,000. GoDaddy accounts for 1.4% of Chapin Davis Inc.’s holdings, making the stock its 14th largest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in shares of GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after buying an additional 1,775,708 shares during the last quarter. Kodai Capital Management LP acquired a new stake in GoDaddy during the 1st quarter worth $75,855,000. Federated Hermes Inc. boosted its holdings in shares of GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after purchasing an additional 379,228 shares during the period. Finally, Acadian Asset Management LLC grew its position in GoDaddy by 676.1% in the first quarter. Acadian Asset Management LLC now owns 347,074 shares of the technology company’s stock worth $41,181,000 after acquiring an additional 302,352 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GDDY. Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a report on Monday. Robert W. Baird increased their target price on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Raymond James lifted their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $172.00 price objective (up from $160.00) on shares of GoDaddy in a research note on Monday, September 23rd. Finally, Royal Bank of Canada increased their price objective on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.54.

GoDaddy Stock Performance

NYSE:GDDY opened at $155.27 on Tuesday. The firm has a market capitalization of $22.16 billion, a price-to-earnings ratio of 12.90 and a beta of 1.12. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The firm’s fifty day simple moving average is $156.77 and its 200 day simple moving average is $142.12. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share 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 the consensus estimate of $1.11 billion. During the same period in the prior year, the company earned $0.63 EPS. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Nick Daddario sold 684 shares of GoDaddy stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total transaction of $107,545.32. Following the transaction, the chief accounting officer now directly owns 17,704 shares in the company, valued at approximately $2,783,599.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $466,800.00. Following the completion of the sale, the chief executive officer now directly owns 348,956 shares in the company, valued at approximately $54,297,553.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 684 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the sale, the chief accounting officer now directly owns 17,704 shares of the company’s stock, valued at $2,783,599.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,744 shares of company stock valued at $4,950,771 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

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.