Jacobs Levy Equity Management Inc. Has $38.74 Million Position in GoDaddy Inc. (NYSE:GDDY)

Jacobs Levy Equity Management Inc. lifted its holdings in GoDaddy Inc. (NYSE:GDDY) by 83.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 247,117 shares of the technology company’s stock after acquiring an additional 112,399 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in GoDaddy were worth $38,743,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in GoDaddy in the 3rd quarter worth about $27,000. Transcendent Capital Group LLC acquired a new position in shares of GoDaddy in the 2nd quarter valued at about $28,000. ORG Wealth Partners LLC purchased a new stake in shares of GoDaddy in the third quarter worth approximately $30,000. ORG Partners LLC acquired a new stake in shares of GoDaddy during the second quarter worth approximately $32,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of GoDaddy during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Activity

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares of the company’s stock, valued at $4,317,659. This represents a 2.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total transaction of $466,800.00. Following the transaction, the chief executive officer now owns 348,956 shares in the company, valued at approximately $54,297,553.60. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,977 shares of company stock valued at $2,866,974. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

GDDY has been the topic of several research analyst reports. Barclays boosted their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. B. Riley boosted their target price on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research note on Monday, October 7th. Piper Sandler lifted their price target on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Robert W. Baird increased their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $173.31.

GoDaddy Trading Up 0.4 %

Shares of GDDY stock opened at $198.35 on Wednesday. The business’s 50 day moving average is $172.44 and its two-hundred day moving average is $156.76. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61. GoDaddy Inc. has a 12 month low of $99.90 and a 12 month high of $202.56. The company has a market cap of $27.85 billion, a PE ratio of 15.33 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last posted its earnings results 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 business 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%. GoDaddy’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $0.89 EPS. Equities analysts predict that GoDaddy Inc. will post 4.98 EPS 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.