Citigroup Inc. Acquires 40,874 Shares of GoDaddy Inc. (NYSE:GDDY)

Citigroup Inc. grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 26.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 195,228 shares of the technology company’s stock after purchasing an additional 40,874 shares during the quarter. Citigroup Inc.’s holdings in GoDaddy were worth $30,608,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after purchasing an additional 67 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in shares of GoDaddy by 4.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after purchasing an additional 73 shares during the last quarter. Whittier Trust Co. boosted its stake in GoDaddy by 4.3% during the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after buying an additional 74 shares during the period. Lindbrook Capital LLC increased its position in GoDaddy by 11.3% during the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock valued at $153,000 after acquiring an additional 99 shares during the last quarter. Finally, Equitable Trust Co. increased its position in GoDaddy by 1.3% during the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock valued at $1,322,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GDDY. Robert W. Baird lifted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Raymond James upped their target price on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Barclays increased their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. B. Riley boosted their price objective on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada increased their target price on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.31.

GoDaddy Stock Up 0.6 %

Shares of GoDaddy stock opened at $197.43 on Tuesday. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $27.72 billion, a price-to-earnings ratio of 15.36 and a beta of 1.11. The firm’s 50-day moving average is $166.62 and its two-hundred day moving average is $153.61. GoDaddy Inc. has a 1 year low of $94.50 and a 1 year high of $200.16.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data 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 firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share. As a group, research analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now owns 101,286 shares in the company, valued at $16,686,868.50. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the sale, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,845 shares of company stock worth $4,803,380. 0.61% of the stock is currently owned by company insiders.

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.