Quest Partners LLC Has $925,000 Holdings in GoDaddy Inc. (NYSE:GDDY)

Quest Partners LLC cut its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 40.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,902 shares of the technology company’s stock after selling 3,986 shares during the quarter. Quest Partners LLC’s holdings in GoDaddy were worth $925,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after acquiring an additional 1,775,708 shares during the period. Federated Hermes Inc. boosted its position in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after acquiring an additional 394,399 shares during the period. Dimensional Fund Advisors LP boosted its position in GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after acquiring an additional 235,934 shares during the period. Fiera Capital Corp boosted its position in GoDaddy by 1.6% during the 2nd quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock worth $115,725,000 after acquiring an additional 13,206 shares during the period. Finally, Kodai Capital Management LP acquired a new stake in shares of GoDaddy during the 1st quarter valued at about $75,855,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GDDY shares. Royal Bank of Canada lifted their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Benchmark lifted their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Piper Sandler lifted their price target on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Raymond James lifted their price target on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $190.11 on Thursday. 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 $164.16 and its two-hundred day moving average is $152.29. The company has a market cap of $26.69 billion, a P/E ratio of 14.69 and a beta of 1.11. GoDaddy Inc. has a 12 month low of $92.45 and a 12 month high of $190.54.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The company 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 company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. On average, equities analysts expect that GoDaddy Inc. will post 4.95 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Nick Daddario sold 2,976 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $151.61, for a total transaction of $451,191.36. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,845 shares of company stock valued at $4,803,380 in the last three months. Company insiders own 0.61% of the company’s stock.

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.