Plato Investment Management Ltd Purchases 6,227 Shares of GoDaddy Inc. (NYSE:GDDY)

Plato Investment Management Ltd boosted its position in shares of GoDaddy Inc. (NYSE:GDDY) by 2,471.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,479 shares of the technology company’s stock after buying an additional 6,227 shares during the quarter. Plato Investment Management Ltd’s holdings in GoDaddy were worth $769,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiera Capital Corp increased its position in shares of GoDaddy by 1.3% in the fourth quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock worth $87,914,000 after purchasing an additional 10,312 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of GoDaddy during the fourth quarter worth about $4,204,000. Forsta AP Fonden increased its stake in GoDaddy by 87.5% in the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after buying an additional 39,200 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after buying an additional 35,703 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in GoDaddy in the 4th quarter valued at about $1,972,000. Institutional investors own 90.28% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the topic of a number of analyst reports. UBS Group lifted their price target on GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Royal Bank of Canada raised their price objective on GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Benchmark restated a “buy” rating and set a $158.00 target price on shares of GoDaddy in a research note on Monday. B. Riley increased their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Raymond James raised their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $158.75.

GoDaddy Stock Performance

GDDY traded up $8.91 on Friday, hitting $150.32. 1,379,027 shares of the company traded hands, compared to its average volume of 1,620,783. GoDaddy Inc. has a 12-month low of $69.18 and a 12-month high of $152.09. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. The company has a 50 day moving average of $141.54 and a 200-day moving average of $126.70. The stock has a market capitalization of $21.45 billion, a PE ratio of 12.51 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. Sell-side analysts anticipate that GoDaddy Inc. will post 4.81 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, CAO Nick Daddario sold 523 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $72,221.07. Following the completion of the sale, the chief accounting officer now owns 22,666 shares in the company, valued at approximately $3,129,947.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other GoDaddy news, CAO Nick Daddario sold 523 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $72,221.07. Following the sale, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at approximately $3,129,947.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 4,058 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $133.69, for a total value of $542,514.02. Following the sale, the chief financial officer now directly owns 112,473 shares of the company’s stock, valued at $15,036,515.37. The disclosure for this sale can be found here. Insiders have sold 46,071 shares of company stock worth $6,385,206 over the last quarter. 0.61% of the stock is owned by corporate insiders.

GoDaddy 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.