Brooklyn Investment Group Buys New Shares in GoDaddy Inc. (NYSE:GDDY)

Brooklyn Investment Group purchased a new stake in shares of GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, Holdings Channel reports. The fund purchased 674 shares of the technology company’s stock, valued at approximately $106,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new stake in shares of GoDaddy during the 3rd quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new stake in GoDaddy during the third quarter worth $30,000. Transcendent Capital Group LLC acquired a new stake in GoDaddy in the second quarter valued at $28,000. ORG Partners LLC bought a new position in shares of GoDaddy in the 2nd quarter valued at about $32,000. Finally, International Assets Investment Management LLC acquired a new position in shares of GoDaddy during the 2nd quarter worth about $36,000. 90.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GDDY has been the topic of a number of research analyst reports. B. Riley increased their price target on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research report on Monday, October 7th. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler increased their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating, nine have assigned 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 a consensus rating of “Moderate Buy” and an average price target of $173.31.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $183.80, for a total transaction of $183,800.00. Following the sale, the chief operating officer now directly owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Nick Daddario sold 684 shares of the company’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 transaction of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,345 shares of company stock valued at $3,897,255 over the last three months. 0.61% of the stock is owned by insiders.

GoDaddy Stock Performance

NYSE:GDDY opened at $197.85 on Thursday. The company has a market cap of $27.78 billion, a price-to-earnings ratio of 15.29 and a beta of 1.11. GoDaddy Inc. has a fifty-two week low of $96.42 and a fifty-two week high of $202.56. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average price of $169.35 and a 200-day moving average price of $154.84.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. As a group, equities analysts anticipate that GoDaddy Inc. will post 4.95 EPS 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.