Burns Matteson Capital Management LLC Purchases New Stake in GoDaddy Inc. (NYSE:GDDY)

Burns Matteson Capital Management LLC bought a new position in shares of GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,315 shares of the technology company’s stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 worth $1,748,603,000 after buying an additional 379,228 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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 purchasing an additional 1,775,708 shares during the period. Federated Hermes Inc. raised 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 purchasing an additional 394,399 shares during the period. Goldman Sachs Group Inc. raised its position in shares of GoDaddy by 13.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock worth $96,166,000 after purchasing an additional 110,076 shares during the period. Finally, Dimensional Fund Advisors LP raised 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 purchasing an additional 235,934 shares during the period. Institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. B. Riley raised their price target on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Raymond James raised their price target on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Barclays raised their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Royal Bank of Canada raised their price target on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, Benchmark lifted their target price on GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, August 26th. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.54.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction that occurred 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 in the company, valued at approximately $27,630,815.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total value of $439,440.00. Following the completion of the sale, the chief executive officer now directly owns 362,398 shares in the company, valued at $53,084,059.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $585,920.00. Following the completion of the sale, the chief operating officer now 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 disclosure for this sale can be found here. In the last three months, insiders sold 31,744 shares of company stock worth $4,950,771. 0.61% of the stock is owned by company insiders.

GoDaddy Stock Up 0.6 %

GDDY stock traded up $0.99 during mid-day trading on Friday, reaching $163.13. The company had a trading volume of 768,912 shares, compared to its average volume of 1,504,532. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a 50 day simple moving average of $157.82 and a two-hundred day simple moving average of $142.66. The company has a market capitalization of $23.00 billion, a price-to-earnings ratio of 13.04 and a beta of 1.12. GoDaddy Inc. has a 52 week low of $71.15 and a 52 week high of $167.65.

GoDaddy (NYSE:GDDY) last posted 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). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts predict that GoDaddy Inc. will post 5.07 earnings per share for the current fiscal year.

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.