Hilltop Holdings Inc. Invests $357,000 in GoDaddy Inc. (NYSE:GDDY)

Hilltop Holdings Inc. bought a new position in GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,276 shares of the technology company’s stock, valued at approximately $357,000.

Other hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after purchasing an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its stake in GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after acquiring an additional 73 shares in the last quarter. Whittier Trust Co. lifted its stake in GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after acquiring an additional 74 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in GoDaddy by 11.3% during the 3rd quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after acquiring an additional 99 shares during the last quarter. Finally, Equitable Trust Co. grew its stake in shares of GoDaddy by 1.3% in the 3rd quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

NYSE GDDY opened at $206.53 on Friday. The company has a market cap of $28.99 billion, a PE ratio of 15.96 and a beta of 1.15. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. The firm’s 50-day simple moving average is $175.50 and its two-hundred day simple moving average is $157.95. GoDaddy Inc. has a 52 week low of $99.90 and a 52 week high of $210.30.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company posted $0.89 EPS. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. Research analysts predict that GoDaddy Inc. will post 4.98 earnings per share for the current year.

Insider Activity

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now directly owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 2,976 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $151.61, for a total transaction of $451,191.36. Following the transaction, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. This represents a 16.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,925 shares of company stock worth $4,237,184. 0.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays boosted their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Piper Sandler increased their price target on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Benchmark boosted their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a research report on Wednesday. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.57.

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.