DekaBank Deutsche Girozentrale grew its holdings in GoDaddy Inc. (NYSE:GDDY – Free Report) by 24.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,401 shares of the technology company’s stock after purchasing an additional 3,632 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in GoDaddy were worth $1,366,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Rice Hall James & Associates LLC boosted its position in GoDaddy by 49.4% during the first quarter. Rice Hall James & Associates LLC now owns 211,463 shares of the technology company’s stock worth $17,699,000 after acquiring an additional 69,944 shares during the last quarter. HighTower Advisors LLC boosted its position in GoDaddy by 7.9% during the first quarter. HighTower Advisors LLC now owns 16,959 shares of the technology company’s stock worth $1,422,000 after acquiring an additional 1,246 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in GoDaddy during the first quarter worth approximately $345,000. Rhumbline Advisers boosted its position in GoDaddy by 3.2% during the first quarter. Rhumbline Advisers now owns 138,312 shares of the technology company’s stock worth $11,577,000 after acquiring an additional 4,315 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its position in GoDaddy by 30.8% during the first quarter. Raymond James Trust N.A. now owns 3,212 shares of the technology company’s stock worth $269,000 after acquiring an additional 757 shares during the last quarter. 95.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts recently issued reports on GDDY shares. Piper Sandler restated a “neutral” rating and set a $84.00 target price on shares of GoDaddy in a research report on Friday, August 4th. StockNews.com downgraded shares of GoDaddy from a “buy” rating to a “hold” rating in a research note on Friday. Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of GoDaddy in a research note on Wednesday, September 13th. Barclays cut their price target on shares of GoDaddy from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. Finally, UBS Group started coverage on shares of GoDaddy in a research note on Friday, September 22nd. They issued a “neutral” rating and a $80.00 target price on the stock. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.42.
Insiders Place Their Bets
In other GoDaddy news, CAO Nick Daddario sold 342 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $73.57, for a total transaction of $25,160.94. Following the completion of the transaction, the chief accounting officer now directly owns 19,689 shares of the company’s stock, valued at approximately $1,448,519.73. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other GoDaddy news, CAO Nick Daddario sold 342 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $73.57, for a total transaction of $25,160.94. Following the completion of the transaction, the chief accounting officer now directly owns 19,689 shares of the company’s stock, valued at approximately $1,448,519.73. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,164 shares of GoDaddy stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $73.57, for a total transaction of $232,775.48. Following the completion of the transaction, the chief executive officer now directly owns 269,961 shares of the company’s stock, valued at $19,861,030.77. The disclosure for this sale can be found here. Insiders sold a total of 48,858 shares of company stock valued at $3,615,095 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.
GoDaddy Trading Down 1.2 %
GDDY opened at $74.55 on Friday. The company has a fifty day simple moving average of $72.95 and a 200 day simple moving average of $73.94. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 36.01 and a beta of 0.93. GoDaddy Inc. has a twelve month low of $64.65 and a twelve month high of $85.32.
GoDaddy (NYSE:GDDY – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. GoDaddy had a net margin of 7.78% and a negative return on equity of 83.74%. On average, analysts forecast that GoDaddy Inc. will post 2.81 earnings per share for the current fiscal year.
About GoDaddy
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.
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