Victory Capital Management Inc. Has $100.63 Million Stake in GoDaddy Inc. $GDDY

Victory Capital Management Inc. grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 318.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 735,452 shares of the technology company’s stock after purchasing an additional 559,757 shares during the quarter. Victory Capital Management Inc.’s holdings in GoDaddy were worth $100,632,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Hemington Wealth Management grew its holdings in GoDaddy by 85.9% in the 3rd quarter. Hemington Wealth Management now owns 184 shares of the technology company’s stock valued at $25,000 after buying an additional 85 shares during the last quarter. NewSquare Capital LLC boosted its position in shares of GoDaddy by 170.9% in the second quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after acquiring an additional 94 shares during the period. Root Financial Partners LLC bought a new stake in shares of GoDaddy in the third quarter valued at approximately $31,000. Rossby Financial LCC grew its stake in shares of GoDaddy by 125.4% in the third quarter. Rossby Financial LCC now owns 284 shares of the technology company’s stock worth $38,000 after acquiring an additional 158 shares during the last quarter. Finally, Bayforest Capital Ltd increased its position in GoDaddy by 141.5% during the third quarter. Bayforest Capital Ltd now owns 355 shares of the technology company’s stock worth $49,000 after acquiring an additional 208 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Trading Down 0.5%

Shares of GDDY opened at $88.78 on Thursday. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $193.55. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 17.50. The stock has a 50 day simple moving average of $102.57 and a 200-day simple moving average of $123.63. The stock has a market cap of $12.00 billion, a PE ratio of 14.25, a PEG ratio of 0.82 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Tuesday, February 24th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.22. GoDaddy had a return on equity of 369.00% and a net margin of 17.67%.The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analyst Ratings Changes

GDDY has been the subject of several research analyst reports. Morgan Stanley reduced their price target on shares of GoDaddy from $159.00 to $145.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 price objective on shares of GoDaddy in a research report on Wednesday, February 25th. Barclays decreased their target price on GoDaddy from $200.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of GoDaddy in a report on Wednesday, January 28th. Finally, Evercore set a $95.00 target price on GoDaddy in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus target price of $131.93.

Insider Activity

In related news, CAO Phontip Palitwanon sold 2,397 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $128.44, for a total transaction of $307,870.68. Following the completion of the sale, the chief accounting officer owned 17,055 shares in the company, valued at $2,190,544.20. This trade represents a 12.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leah Sweet sold 650 shares of GoDaddy stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $86.86, for a total transaction of $56,459.00. Following the transaction, the director directly owned 11,414 shares of the company’s stock, valued at $991,420.04. This represents a 5.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is currently owned by corporate insiders.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.