B. Metzler seel. Sohn & Co. Holding AG Makes New $472,000 Investment in GoDaddy Inc. (NYSE:GDDY)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in GoDaddy Inc. (NYSE:GDDY) in the third quarter, Holdings Channel.com reports. The fund purchased 3,009 shares of the technology company’s stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GDDY. Federated Hermes Inc. raised its stake in shares of 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 buying an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC raised its position in GoDaddy by 2,279.5% during the third quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after acquiring an additional 384,386 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock valued at $56,709,000 after purchasing an additional 350,839 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 purchasing an additional 235,934 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of GoDaddy during the 2nd quarter worth approximately $30,785,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $196.35 on Monday. The business’s fifty day moving average price is $166.62 and its 200 day moving average price is $153.46. GoDaddy Inc. has a twelve month low of $94.50 and a twelve month high of $196.71. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a market capitalization of $27.57 billion, a P/E ratio of 15.17 and a beta of 1.11.

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

Wall Street Analysts Forecast Growth

GDDY has been the subject of several recent research reports. B. Riley raised their price target on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird upped their target price on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a report on Monday, October 7th. Raymond James upped their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the transaction, the chief executive officer now directly owns 358,773 shares in the company, valued at approximately $59,882,801.43. This represents a 0.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at approximately $16,686,868.50. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,845 shares of company stock worth $4,803,380 over the last ninety days. 0.61% of the stock is owned by company insiders.

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.