Massachusetts Financial Services Co. MA Has $6.24 Million Position in GoDaddy Inc. (NYSE:GDDY)

Massachusetts Financial Services Co. MA grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 5.6% in the third quarter, HoldingsChannel.com reports. The fund owned 39,785 shares of the technology company’s stock after acquiring an additional 2,124 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in GoDaddy were worth $6,237,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GDDY. Federated Hermes Inc. grew its holdings in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after acquiring an additional 394,399 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after purchasing an additional 384,386 shares in the last quarter. Mizuho Securities USA LLC boosted its position in shares of GoDaddy by 3,227.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after purchasing an additional 350,839 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of GoDaddy by 37.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock worth $120,305,000 after purchasing an additional 235,934 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of GoDaddy during the 2nd quarter worth about $30,785,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the sale, the chief executive officer now owns 358,773 shares in the company, valued at $59,882,801.43. This trade represents a 0.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian Sharples sold 500 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $179.00, for a total transaction of $89,500.00. Following the sale, the director now owns 24,121 shares of the company’s stock, valued at approximately $4,317,659. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,345 shares of company stock worth $3,897,255 in the last quarter. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of a number of research analyst reports. Benchmark increased their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays increased their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Royal Bank of Canada raised their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird raised their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, StockNews.com cut shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Five research 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. According to MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Trading Up 1.2 %

NYSE:GDDY opened at $199.73 on Wednesday. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $28.04 billion, a price-to-earnings ratio of 15.44 and a beta of 1.11. GoDaddy Inc. has a 52 week low of $94.50 and a 52 week high of $202.56. The firm has a 50-day moving average price of $167.56 and a two-hundred day moving average price of $154.07.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business posted $0.89 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts expect that GoDaddy Inc. will post 4.95 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 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.