GoDaddy Inc. (NYSE:GDDY) Shares Bought by Sei Investments Co.

Sei Investments Co. grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 13.7% in the first quarter, Holdings Channel.com reports. The fund owned 237,636 shares of the technology company’s stock after purchasing an additional 28,555 shares during the period. Sei Investments Co.’s holdings in GoDaddy were worth $45,132,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. BNP Paribas raised its position in shares of GoDaddy by 2.9% during the 4th quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock worth $417,000 after purchasing an additional 59 shares during the last quarter. City Holding Co. grew its stake in GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company’s stock worth $47,000 after acquiring an additional 60 shares during the period. Equitable Trust Co. grew its stake in GoDaddy by 1.0% in the 1st quarter. Equitable Trust Co. now owns 6,657 shares of the technology company’s stock worth $1,199,000 after acquiring an additional 64 shares during the period. NorthCrest Asset Manangement LLC grew its stake in GoDaddy by 0.8% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company’s stock worth $1,435,000 after acquiring an additional 67 shares during the period. Finally, Rehmann Capital Advisory Group grew its stake in GoDaddy by 4.1% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company’s stock worth $344,000 after acquiring an additional 71 shares during the period. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total value of $1,246,442.92. Following the transaction, the chief executive officer owned 431,015 shares in the company, valued at $77,500,807.15. The trade was a 1.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total transaction of $169,590.00. Following the completion of the transaction, the chief operating officer owned 253,949 shares in the company, valued at $43,067,210.91. This represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,257 shares of company stock worth $5,639,070. 0.70% of the stock is owned by corporate insiders.

GoDaddy Stock Up 2.1%

Shares of GoDaddy stock opened at $143.29 on Thursday. The company has a fifty day moving average price of $168.91 and a 200 day moving average price of $178.46. The company has a current ratio of 0.64, a quick ratio of 0.56 and a debt-to-equity ratio of 9.33. GoDaddy Inc. has a twelve month low of $132.51 and a twelve month high of $216.00. The stock has a market cap of $20.42 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 1.52 and a beta of 1.08.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Benchmark reaffirmed a “buy” rating on shares of GoDaddy in a research note on Monday, April 28th. Raymond James Financial lowered their target price on shares of GoDaddy from $225.00 to $175.00 and set a “strong-buy” rating for the company in a research note on Friday, August 8th. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 6th. Wells Fargo & Company lowered their target price on shares of GoDaddy from $198.00 to $157.00 and set an “equal weight” rating for the company in a research note on Friday, August 8th. Finally, Citigroup lowered their price objective on shares of GoDaddy from $234.00 to $214.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.43.

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.