Invst LLC Acquires 349 Shares of GoDaddy Inc. (NYSE:GDDY)

Invst LLC raised its holdings in GoDaddy Inc. (NYSE:GDDY) by 4.8% during the second quarter, Holdings Channel reports. The institutional investor owned 7,558 shares of the technology company’s stock after buying an additional 349 shares during the quarter. Invst LLC’s holdings in GoDaddy were worth $1,069,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after acquiring an additional 1,775,708 shares during the last quarter. Kodai Capital Management LP bought a new stake in GoDaddy during the 1st quarter worth approximately $75,855,000. Federated Hermes Inc. raised its stake in shares of GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after purchasing an additional 379,228 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of GoDaddy by 676.1% during the first quarter. Acadian Asset Management LLC now owns 347,074 shares of the technology company’s stock valued at $41,181,000 after buying an additional 302,352 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GoDaddy

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares in the company, valued at $734,620.21. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $146.48, for a total value of $585,920.00. Following the transaction, the chief operating officer now owns 188,632 shares of the company’s stock, valued at $27,630,815.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,244 shares of company stock worth $3,628,171. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 0.2 %

Shares of NYSE GDDY opened at $156.00 on Monday. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $22.26 billion, a PE ratio of 12.96 and a beta of 1.13. GoDaddy Inc. has a one year low of $71.15 and a one year high of $167.65. The business’s fifty day moving average price is $155.52 and its 200-day moving average price is $140.43.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business earned $0.63 EPS. GoDaddy’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current year.

Analyst Ratings Changes

GDDY has been the subject of a number of analyst reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research report on Monday, September 23rd. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada boosted their price target on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Benchmark increased their price objective on shares of GoDaddy from $170.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Piper Sandler reissued a “neutral” rating and set a $172.00 target price (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $166.54.

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.