PNC Financial Services Group Inc. Buys 986 Shares of GoDaddy Inc. (NYSE:GDDY)

PNC Financial Services Group Inc. raised its stake in GoDaddy Inc. (NYSE:GDDY) by 18.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,285 shares of the technology company’s stock after buying an additional 986 shares during the period. PNC Financial Services Group Inc.’s holdings in GoDaddy were worth $985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of GoDaddy by 3.4% in the 3rd quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after acquiring an additional 6,424 shares during the period. Highland Capital Management LLC bought a new stake in shares of GoDaddy in the 3rd quarter valued at $1,132,000. Plato Investment Management Ltd raised its stake in GoDaddy by 2,471.0% during the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after buying an additional 6,227 shares during the period. Swedbank AB lifted its holdings in GoDaddy by 3.5% during the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after acquiring an additional 5,247 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in GoDaddy by 28.0% in the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after acquiring an additional 9,631 shares during the period. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald restated a “neutral” rating and set a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Benchmark increased their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird boosted their price objective on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler increased their target price on GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.31.

GoDaddy Trading Down 0.9 %

NYSE GDDY opened at $197.85 on Thursday. GoDaddy Inc. has a 12 month low of $96.42 and a 12 month high of $202.56. 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 50 day moving average of $169.35 and a 200-day moving average of $154.84. The company has a market cap of $27.78 billion, a PE ratio of 15.29 and a beta of 1.11.

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

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now owns 358,773 shares in the company, valued at approximately $59,882,801.43. This represents a 0.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nick Daddario sold 684 shares of the stock in a transaction dated 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 directly owns 17,704 shares in the company, valued at approximately $2,783,599.92. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,345 shares of company stock worth $3,897,255. Insiders own 0.61% of the company’s stock.

About GoDaddy

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.