GoDaddy Inc. (NYSE:GDDY) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can boosted its holdings in GoDaddy Inc. (NYSE:GDDY) by 57.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 213,415 shares of the technology company’s stock after buying an additional 78,129 shares during the quarter. Bank of Montreal Can’s holdings in GoDaddy were worth $33,293,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new stake in GoDaddy during the third quarter worth about $27,000. ORG Wealth Partners LLC acquired a new stake in GoDaddy during the third quarter worth about $30,000. Transcendent Capital Group LLC acquired a new stake in GoDaddy during the second quarter worth about $28,000. ORG Partners LLC acquired a new stake in GoDaddy during the second quarter worth about $32,000. Finally, International Assets Investment Management LLC acquired a new stake in GoDaddy during the second quarter worth about $36,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Down 0.9 %

NYSE:GDDY opened at $197.85 on Friday. 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 business’s 50 day moving average is $170.11 and its two-hundred day moving average is $155.14. GoDaddy Inc. has a 52 week low of $96.42 and a 52 week high of $202.56. The company has a market cap of $27.78 billion, a PE ratio of 15.29 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the business posted $0.89 EPS. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that GoDaddy Inc. will post 4.95 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on GDDY shares. Royal Bank of Canada upped their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. B. Riley upped their target price on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays upped their target price on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Piper Sandler upped their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $173.31.

Insiders Place Their Bets

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now directly owns 24,121 shares in the company, valued at approximately $4,317,659. This represents a 2.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the sale, the chief operating officer now owns 185,632 shares in the company, valued at $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,345 shares of company stock valued at $3,897,255 in the last quarter. Insiders own 0.61% of the company’s stock.

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.