Bank of Montreal Can Boosts Stake in GoDaddy Inc. (NYSE:GDDY)

Bank of Montreal Can raised its position in GoDaddy Inc. (NYSE:GDDY) by 328.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,286 shares of the technology company’s stock after purchasing an additional 103,729 shares during the quarter. Bank of Montreal Can owned 0.09% of GoDaddy worth $19,105,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GDDY. V Square Quantitative Management LLC purchased a new position in GoDaddy in the fourth quarter valued at about $28,000. Transcendent Capital Group LLC purchased a new stake in shares of GoDaddy during the 2nd quarter valued at about $28,000. GAMMA Investing LLC lifted its position in GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares in the last quarter. ORG Partners LLC purchased a new position in GoDaddy in the 2nd quarter worth approximately $32,000. Finally, International Assets Investment Management LLC purchased a new position in GoDaddy in the 2nd quarter worth approximately $36,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GDDY shares. Royal Bank of Canada boosted their target price 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. Robert W. Baird boosted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Raymond James raised their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. B. Riley boosted their price target on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Piper Sandler reissued a “neutral” rating and issued a $172.00 price target (up previously from $160.00) on shares of GoDaddy in a report on Monday, September 23rd. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.54.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $156.00 on Friday. The company has a market cap of $22.26 billion, a PE ratio of 12.96 and a beta of 1.13. GoDaddy Inc. has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The firm has a 50-day simple moving average of $155.52 and a 200 day simple moving average of $140.27. 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 (NYSE:GDDY) last announced its quarterly earnings results 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). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates 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 company posted $0.63 earnings per share. On average, sell-side analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current year.

Insiders Place Their Bets

In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $559,160.00. Following the completion of the transaction, the chief operating officer now owns 192,632 shares in the company, valued at $26,928,027.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $559,160.00. Following the sale, the chief operating officer now owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at $2,783,599.92. The disclosure for this sale can be found here. Insiders have sold 31,744 shares of company stock valued at $4,816,386 over the last three months. Company insiders own 0.61% of the company’s stock.

GoDaddy Company 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.