Putnam Investments LLC reduced its position in shares of GoDaddy Inc. (NYSE:GDDY – Get Rating) by 21.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,902 shares of the technology company’s stock after selling 11,589 shares during the quarter. Putnam Investments LLC’s holdings in GoDaddy were worth $2,970,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in GoDaddy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock valued at $1,356,131,000 after purchasing an additional 107,949 shares during the period. Starboard Value LP raised its stake in GoDaddy by 1.5% during the 2nd quarter. Starboard Value LP now owns 8,376,808 shares of the technology company’s stock valued at $582,691,000 after purchasing an additional 126,388 shares during the period. State Street Corp raised its stake in GoDaddy by 2.3% during the 1st quarter. State Street Corp now owns 3,941,457 shares of the technology company’s stock valued at $329,900,000 after purchasing an additional 90,041 shares during the period. Brahman Capital Corp. raised its stake in GoDaddy by 17.6% during the 2nd quarter. Brahman Capital Corp. now owns 2,399,672 shares of the technology company’s stock valued at $166,921,000 after purchasing an additional 359,601 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in GoDaddy by 42.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,840,842 shares of the technology company’s stock valued at $128,048,000 after purchasing an additional 549,626 shares during the period. 97.32% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
GDDY has been the topic of several research analyst reports. Jefferies Financial Group cut shares of GoDaddy from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a report on Monday, January 9th. Benchmark restated a “buy” rating and set a $100.00 price target on shares of GoDaddy in a report on Monday, February 13th. Evercore ISI upgraded shares of GoDaddy from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $86.00 to $103.00 in a report on Wednesday, January 18th. Piper Sandler restated an “overweight” rating and set a $100.00 price target on shares of GoDaddy in a report on Friday, February 10th. Finally, Barclays lowered their price target on shares of GoDaddy from $104.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, February 15th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.89.
GoDaddy Price Performance
GoDaddy (NYSE:GDDY – Get Rating) last released its earnings results on Tuesday, February 14th. The technology company reported $0.62 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.62. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. GoDaddy had a net margin of 8.61% and a negative return on equity of 93.48%. As a group, sell-side analysts expect that GoDaddy Inc. will post 2.71 earnings per share for the current year.
Insiders Place Their Bets
In other GoDaddy news, insider Michele Lau sold 344 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $84.26, for a total transaction of $28,985.44. Following the completion of the transaction, the insider now owns 62,209 shares of the company’s stock, valued at approximately $5,241,730.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Mark Mccaffrey sold 5,098 shares of the company’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $74.47, for a total transaction of $379,648.06. Following the completion of the transaction, the chief financial officer now owns 76,237 shares of the company’s stock, valued at $5,677,369.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michele Lau sold 344 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $84.26, for a total transaction of $28,985.44. Following the transaction, the insider now directly owns 62,209 shares of the company’s stock, valued at approximately $5,241,730.34. The disclosure for this sale can be found here. Insiders sold a total of 24,484 shares of company stock valued at $1,858,772 in the last quarter. Insiders own 0.37% of the company’s stock.
GoDaddy Company Profile
GoDaddy, Inc engages in the provision of domain name registration and web hosting services. It provides website building, hosting, and security tools. The company was founded by Robert R. Parsons in January 1997 and is headquartered in Tempe, AZ.
Featured Articles
- Get a free copy of the StockNews.com research report on GoDaddy (GDDY)
- What the SVB Financial Collapse Means for U.S. Banks
- MarketBeat Week in Review – 3/6 – 3/10
- 2 Offshore Drilling Stocks Set to Extract Big Profits
- Three Staples Stocks With Double-Digit Upside Ahead
- Can Investors Trust Consumers to Lift American Outdoor Brands?
Want to see what other hedge funds are holding GDDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GoDaddy Inc. (NYSE:GDDY – Get Rating).
Receive News & Ratings for GoDaddy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoDaddy and related companies with MarketBeat.com's FREE daily email newsletter.
