Sequoia Financial Advisors LLC Makes New $293,000 Investment in GoDaddy Inc. (NYSE:GDDY)

Sequoia Financial Advisors LLC bought a new stake in GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,867 shares of the technology company’s stock, valued at approximately $293,000.

Several other institutional investors also recently modified their holdings of GDDY. Vanguard Group Inc. grew its holdings in GoDaddy by 2.6% during 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. Price T Rowe Associates Inc. MD lifted its position in shares of GoDaddy by 94.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after acquiring an additional 1,775,708 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after acquiring an additional 394,399 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of GoDaddy by 37.7% during the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after acquiring an additional 235,934 shares in the last quarter. Finally, Fiera Capital Corp raised its position in shares of GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after buying an additional 13,206 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total transaction of $585,920.00. Following the transaction, the chief operating officer now directly owns 188,632 shares of the company’s stock, valued at $27,630,815.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated 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 owns 348,956 shares of the company’s stock, valued at approximately $54,297,553.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 4,000 shares of the company’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 sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,744 shares of company stock valued at $5,114,931. 0.61% of the stock is currently owned by company insiders.

GoDaddy Trading Down 0.4 %

NYSE:GDDY opened at $159.94 on Tuesday. 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 Inc. has a 12 month low of $71.69 and a 12 month high of $167.65. The company has a market cap of $22.82 billion, a PE ratio of 13.28 and a beta of 1.12. The company has a 50 day simple moving average of $159.26 and a two-hundred day simple moving average of $146.07.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. Research analysts forecast that GoDaddy Inc. will post 5.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GDDY shares. Royal Bank of Canada increased their price objective on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Barclays raised their price target on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. B. Riley raised their price target on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Robert W. Baird raised their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.54.

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.