Brooklyn Investment Group Makes New $106,000 Investment in GoDaddy Inc. (NYSE:GDDY)

Brooklyn Investment Group acquired a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 674 shares of the technology company’s stock, valued at approximately $106,000.

Several other large investors also recently modified their holdings of GDDY. Federated Hermes Inc. boosted its position in GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after buying an additional 394,399 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock valued at $62,908,000 after purchasing an additional 384,386 shares in the last quarter. Mizuho Securities USA LLC raised its position in GoDaddy by 3,227.3% in the 3rd 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 during the last quarter. FMR LLC boosted its stake in GoDaddy by 19.8% in the third quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of GoDaddy by 37.7% during the second 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 during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other GoDaddy news, COO Roger Chen sold 1,000 shares of GoDaddy 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 transaction, the chief operating officer now owns 185,632 shares of the company’s stock, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at $2,783,599.92. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,345 shares of company stock worth $3,897,255. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GDDY. B. Riley upped their price target on shares of GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada increased their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Piper Sandler raised their price target on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Benchmark upped their price objective on GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Barclays lifted their target price on GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy presently has an average rating of “Moderate Buy” and an average target price of $173.31.

GoDaddy Stock Performance

Shares of GDDY stock opened at $197.85 on Thursday. The stock has a 50-day moving average of $169.35 and a 200-day moving average of $154.84. GoDaddy Inc. has a one year low of $96.42 and a one year high of $202.56. The stock has a market cap of $27.78 billion, a PE ratio of 15.29 and a beta of 1.11. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY) last posted its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share 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 analyst estimates of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.89 earnings per share. As a group, sell-side analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current year.

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.