Park Avenue Securities LLC Has $1.24 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Park Avenue Securities LLC grew its position in GoDaddy Inc. (NYSE:GDDY) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,910 shares of the technology company’s stock after purchasing an additional 310 shares during the quarter. Park Avenue Securities LLC’s holdings in GoDaddy were worth $1,240,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GDDY. V Square Quantitative Management LLC bought a new stake in GoDaddy during the fourth quarter valued at $28,000. Transcendent Capital Group LLC bought a new stake in shares of GoDaddy during the 2nd quarter valued at about $28,000. GAMMA Investing LLC grew its stake in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 133 shares during the period. ORG Partners LLC bought a new stake in GoDaddy in the second quarter worth approximately $32,000. Finally, International Assets Investment Management LLC bought a new stake in GoDaddy in the second quarter worth approximately $36,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Up 3.1 %

NYSE:GDDY opened at $160.10 on Wednesday. GoDaddy Inc. has a 52 week low of $71.15 and a 52 week high of $167.65. The firm has a 50-day moving average price of $157.09 and a two-hundred day moving average price of $142.40. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market cap of $22.84 billion, a price-to-earnings ratio of 13.30 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 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 business posted $0.63 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts expect that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GDDY. Royal Bank of Canada raised their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Cantor Fitzgerald restated a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday. Piper Sandler reaffirmed a “neutral” rating and set a $172.00 price target (up from $160.00) on shares of GoDaddy in a research note on Monday, September 23rd. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, B. Riley upped their target price on 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.54.

Insider Buying and Selling

In related news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $585,920.00. Following the completion of the sale, the chief operating officer now owns 188,632 shares in the company, valued at approximately $27,630,815.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $585,920.00. Following the completion of the transaction, the chief operating officer now directly owns 188,632 shares of the company’s stock, valued at approximately $27,630,815.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the completion of the sale, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,744 shares of company stock valued at $4,950,771. 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.