ING Groep NV cut its holdings in GoDaddy Inc. (NYSE:GDDY – Free Report) by 45.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,599 shares of the technology company’s stock after selling 84,599 shares during the period. ING Groep NV’s holdings in GoDaddy were worth $12,855,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in GDDY. American Century Companies Inc. raised its stake in shares of GoDaddy by 130.5% during the third quarter. American Century Companies Inc. now owns 151,432 shares of the technology company’s stock valued at $20,720,000 after acquiring an additional 85,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of GoDaddy during the third quarter valued at about $30,575,000. BNP Paribas Financial Markets raised its stake in shares of GoDaddy by 5.7% during the fourth quarter. BNP Paribas Financial Markets now owns 945,202 shares of the technology company’s stock valued at $117,281,000 after acquiring an additional 50,959 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of GoDaddy by 22,341.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 117,142 shares of the technology company’s stock valued at $14,535,000 after acquiring an additional 116,620 shares during the last quarter. Finally, Swedbank AB raised its stake in shares of GoDaddy by 433.9% during the fourth quarter. Swedbank AB now owns 645,754 shares of the technology company’s stock valued at $80,125,000 after acquiring an additional 524,811 shares during the last quarter. 90.28% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of GoDaddy from $77.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. lowered their price objective on shares of GoDaddy from $167.00 to $154.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Barclays lowered their price objective on shares of GoDaddy from $200.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, February 26th. Piper Sandler assumed coverage on shares of GoDaddy in a research note on Thursday, March 12th. They set a “neutral” rating and a $93.00 price objective for the company. Finally, Benchmark lowered their price objective on shares of GoDaddy from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $120.57.
GoDaddy Price Performance
Shares of NYSE GDDY opened at $84.59 on Monday. GoDaddy Inc. has a 1 year low of $73.06 and a 1 year high of $183.34. The company has a debt-to-equity ratio of 15.86, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50-day moving average is $85.70 and its 200 day moving average is $99.42. The stock has a market capitalization of $11.20 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.76 and a beta of 0.90.
GoDaddy (NYSE:GDDY – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. GoDaddy had a net margin of 17.32% and a return on equity of 366.90%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned $1.51 earnings per share. GoDaddy’s quarterly revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts expect that GoDaddy Inc. will post 7.17 earnings per share for the current year.
Insider Activity at GoDaddy
In related news, CEO Amanpal Singh Bhutani sold 8,373 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $752,397.78. Following the transaction, the chief executive officer owned 521,747 shares in the company, valued at $46,884,185.42. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mark Mccaffrey sold 3,958 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $89.86, for a total transaction of $355,665.88. Following the transaction, the chief financial officer owned 109,228 shares in the company, valued at $9,815,228.08. This represents a 3.50% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 14,561 shares of company stock worth $1,308,104 over the last ninety days. Corporate insiders own 0.93% of the company’s stock.
GoDaddy Profile
GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.
Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.
Featured Articles
- Five stocks we like better than GoDaddy
- These 3 Insurance Stocks Made New 52-Week Highs: Still Time to Buy?
- 3 Stocks Under $20 to Buy Before a Broader Market Rally
- Petco Faces Tough Competition, But Momentum Is Building
- The Lock-In Effect Is Real—These 3 Homebuilders Are Betting on It
Want to see what other hedge funds are holding GDDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GoDaddy Inc. (NYSE:GDDY – Free Report).
Receive News & Ratings for GoDaddy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoDaddy and related companies with MarketBeat.com's FREE daily email newsletter.
