OVERSEA CHINESE BANKING Corp Ltd Purchases New Holdings in GoDaddy Inc. (NYSE:GDDY)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of GoDaddy Inc. (NYSE:GDDY) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 1,740 shares of the technology company’s stock, valued at approximately $273,000.

Several other large investors also recently added to or reduced their stakes in GDDY. Sei Investments Co. grew its holdings in shares of GoDaddy by 13.1% during the first quarter. Sei Investments Co. now owns 176,053 shares of the technology company’s stock valued at $20,894,000 after buying an additional 20,347 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of GoDaddy in the first quarter worth approximately $1,175,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of GoDaddy by 20.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 75,554 shares of the technology company’s stock worth $8,967,000 after purchasing an additional 12,651 shares during the period. Glaxis Capital Management LLC purchased a new position in GoDaddy during the first quarter valued at approximately $237,000. Finally, Cumberland Partners Ltd acquired a new position in GoDaddy in the 1st quarter valued at approximately $1,187,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Trading Up 0.8 %

NYSE:GDDY opened at $188.75 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 company’s 50 day moving average is $161.46 and its 200-day moving average is $150.36. The firm has a market cap of $26.50 billion, a price-to-earnings ratio of 14.59 and a beta of 1.11. GoDaddy Inc. has a 12 month low of $88.93 and a 12 month high of $190.21.

GoDaddy (NYSE:GDDY) last announced its 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. 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 the consensus estimate of $1.14 billion. During the same quarter last year, the firm posted $0.89 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that GoDaddy Inc. will post 4.95 EPS for the current year.

Insider Buying and Selling

In other GoDaddy news, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the sale, the director now owns 24,121 shares of the company’s stock, valued at $4,317,659. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Nick Daddario sold 684 shares of the company’s 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 owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Sharples sold 500 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $179.00, for a total transaction of $89,500.00. Following the completion of the sale, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,844 shares of company stock valued at $4,619,397. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

GDDY has been the subject of a number of research reports. Benchmark lifted their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com downgraded GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. B. Riley boosted their price target on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Piper Sandler raised their price objective on shares of GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Five investment 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.38.

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.