Connor Clark & Lunn Investment Management Ltd. Purchases New Shares in GoDaddy Inc. (NYSE:GDDY)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in GoDaddy Inc. (NYSE:GDDY) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 45,705 shares of the technology company’s stock, valued at approximately $7,166,000.

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

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares in the company, valued at $34,119,161.60. This trade represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the transaction, the chief accounting officer now directly owns 14,728 shares in the company, valued at approximately $2,232,912.08. The trade was a 16.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,845 shares of company stock worth $4,803,380. 0.61% of the stock is owned by corporate insiders.

GoDaddy Stock Performance

Shares of GDDY stock opened at $196.41 on Friday. The company’s 50 day moving average is $165.74 and its 200 day moving average is $152.83. 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 has a market cap of $27.57 billion, a price-to-earnings ratio of 15.18 and a beta of 1.11. GoDaddy Inc. has a 52-week low of $94.50 and a 52-week high of $196.71.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Robert W. Baird boosted their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday. Piper Sandler raised their price target on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price objective on shares of GoDaddy in a report on Monday, October 7th. Finally, B. Riley upped their target price on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.31.

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.