GoDaddy Inc. $GDDY Shares Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. increased its holdings in GoDaddy Inc. (NYSE:GDDY) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,778 shares of the technology company’s stock after purchasing an additional 4,227 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in GoDaddy were worth $12,384,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of GoDaddy by 257.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company’s stock valued at $402,946,000 after buying an additional 1,610,890 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of GoDaddy by 41.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company’s stock worth $439,525,000 after acquiring an additional 710,842 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of GoDaddy by 893.4% in the 1st quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company’s stock worth $116,685,000 after acquiring an additional 582,539 shares during the last quarter. National Bank of Canada FI raised its position in shares of GoDaddy by 719.5% during the first quarter. National Bank of Canada FI now owns 538,514 shares of the technology company’s stock worth $97,008,000 after purchasing an additional 472,805 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company’s stock valued at $3,266,697,000 after purchasing an additional 462,807 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GDDY. Royal Bank Of Canada dropped their price target on GoDaddy from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Piper Sandler set a $182.00 target price on shares of GoDaddy and gave the stock an “overweight” rating in a report on Friday, August 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 target price on shares of GoDaddy in a research report on Friday, October 31st. UBS Group reduced their price target on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Benchmark decreased their price objective on shares of GoDaddy from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $184.07.

GoDaddy Stock Performance

Shares of GDDY opened at $131.93 on Friday. The company has a market capitalization of $18.27 billion, a PE ratio of 23.56, a PEG ratio of 1.36 and a beta of 0.96. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64. The company’s 50 day moving average price is $137.70 and its 200 day moving average price is $159.47. GoDaddy Inc. has a 52 week low of $125.00 and a 52 week high of $216.00.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the firm earned $1.32 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Buying and Selling at GoDaddy

In other news, CFO Mark Mccaffrey sold 3,326 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total transaction of $472,990.46. Following the completion of the sale, the chief financial officer directly owned 70,133 shares of the company’s stock, valued at $9,973,613.93. This trade represents a 4.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $145.71, for a total value of $145,710.00. Following the sale, the chief operating officer owned 251,949 shares of the company’s stock, valued at approximately $36,711,488.79. This represents a 0.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,203 shares of company stock valued at $3,060,798 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

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.