Pensionfund Sabic Invests $941,000 in GoDaddy Inc. (NYSE:GDDY)

Pensionfund Sabic purchased a new stake in GoDaddy Inc. (NYSE:GDDY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the technology company’s stock, valued at approximately $941,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. raised its holdings in shares of GoDaddy by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in GoDaddy by 0.9% during the first quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock worth $1,427,000 after buying an additional 113 shares during the period. Sivia Capital Partners LLC boosted its position in GoDaddy by 3.9% during the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock valued at $359,000 after acquiring an additional 113 shares in the last quarter. Atomi Financial Group Inc. increased its holdings in shares of GoDaddy by 7.6% in the 3rd quarter. Atomi Financial Group Inc. now owns 1,861 shares of the technology company’s stock valued at $292,000 after acquiring an additional 131 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of GoDaddy by 102.3% in 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. Institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $466,800.00. Following the transaction, the chief executive officer now owns 348,956 shares in the company, valued at $54,297,553.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $466,800.00. Following the completion of the transaction, the chief executive officer now directly owns 348,956 shares in the company, valued at $54,297,553.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,744 shares of company stock worth $4,950,771 in the last 90 days. Insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.6 %

Shares of GDDY opened at $162.10 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The firm has a market cap of $22.85 billion, a P/E ratio of 12.96 and a beta of 1.12. The stock’s 50 day moving average is $157.82 and its two-hundred day moving average is $142.66. GoDaddy Inc. has a 12 month low of $71.15 and a 12 month high of $167.65.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.06). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. Analysts predict that GoDaddy Inc. will post 5.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

GDDY has been the topic of a number of recent research reports. Benchmark raised their price objective on GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Royal Bank of Canada boosted their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Barclays raised their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Piper Sandler reaffirmed a “neutral” rating and set a $172.00 price target (up from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Finally, Robert W. Baird raised their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $166.54.

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.