Mn Services Vermogensbeheer B.V. Raises Holdings in GoDaddy Inc. (NYSE:GDDY)

Posted by Defense World Staff on Jul 14th, 2023

Mn Services Vermogensbeheer B.V. increased its position in GoDaddy Inc. (NYSE:GDDY – Free Report) by 4.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 85,100 shares of the technology company’s stock after acquiring an additional 3,400 shares during the quarter. Mn Services Vermogensbeheer B.V. owned about 0.06% of GoDaddy worth $6,614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Achmea Investment Management B.V. bought a new position in GoDaddy during the first quarter worth about $31,000. Allworth Financial LP boosted its holdings in GoDaddy by 56.7% in the 4th quarter. Allworth Financial LP now owns 456 shares of the technology company’s stock worth $34,000 after buying an additional 165 shares during the period. Ronald Blue Trust Inc. grew its stake in GoDaddy by 119.4% in the 1st quarter. Ronald Blue Trust Inc. now owns 509 shares of the technology company’s stock valued at $38,000 after buying an additional 277 shares in the last quarter. Penserra Capital Management LLC bought a new stake in GoDaddy during the 4th quarter valued at $62,000. Finally, Psagot Value Holdings Ltd. Israel purchased a new stake in shares of GoDaddy during the fourth quarter worth $75,000. 93.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GoDaddy

In other news, CAO Nick Daddario sold 341 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $75.37, for a total value of $25,701.17. Following the completion of the sale, the chief accounting officer now directly owns 20,722 shares in the company, valued at approximately $1,561,817.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Nick Daddario sold 341 shares of GoDaddy stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $75.37, for a total value of $25,701.17. Following the transaction, the chief accounting officer now owns 20,722 shares in the company, valued at $1,561,817.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 3,117 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $75.37, for a total value of $234,928.29. Following the sale, the chief executive officer now owns 275,141 shares of the company’s stock, valued at $20,737,377.17. The disclosure for this sale can be found here. Insiders have sold 14,286 shares of company stock worth $1,072,436 over the last ninety days. Insiders own 0.54% of the company’s stock.

GoDaddy Stock Down 0.2 %

GDDY opened at $77.33 on Friday. The business’s fifty day simple moving average is $73.23 and its 200 day simple moving average is $75.51. GoDaddy Inc. has a 52 week low of $64.65 and a 52 week high of $85.32. The stock has a market cap of $11.95 billion, a PE ratio of 37.00, a P/E/G ratio of 2.13 and a beta of 0.96.

GoDaddy (NYSE:GDDY – Get Free Report) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.22). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.04 billion. GoDaddy had a negative return on equity of 95.00% and a net margin of 8.03%. GoDaddy’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. As a group, equities analysts anticipate that GoDaddy Inc. will post 2.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GDDY. Barclays reduced their price target on GoDaddy from $100.00 to $98.00 in a research report on Friday, May 5th. Piper Sandler decreased their price target on GoDaddy from $88.00 to $84.00 in a research report on Friday, May 5th. Royal Bank of Canada began coverage on shares of GoDaddy in a research report on Monday, June 5th. They issued a “sector perform” rating and a $80.00 price objective for the company. StockNews.com started coverage on shares of GoDaddy in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, B. Riley initiated coverage on shares of GoDaddy in a report on Wednesday, June 28th. They issued a “buy” rating and a $102.00 price target for the company. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $92.75.

GoDaddy Profile

(Free Report)

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 hosting platform that allows customers to build and manage a faster and more secure WordPress site and offered with WooCommerce to sell online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and engage customers and create content.