Allianz SE Buys 3,130 Shares of GoDaddy Inc. (NYSE:GDDY)

Allianz SE lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 133.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,470 shares of the technology company's stock after purchasing an additional 3,130 shares during the period. Allianz SE's holdings in GoDaddy were worth $985,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GDDY. Cornerstone Planning Group LLC increased its holdings in GoDaddy by 123.4% during the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after buying an additional 79 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in GoDaddy in the first quarter valued at $27,000. Private Trust Co. NA grew its position in shares of GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after acquiring an additional 136 shares during the period. GW&K Investment Management LLC grew its position in shares of GoDaddy by 307.9% in the 1st quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock valued at $46,000 after acquiring an additional 194 shares during the period. Finally, City Holding Co. increased its stake in shares of GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

Insider Buying and Selling

In other GoDaddy news, CFO Mark Mccaffrey sold 625 shares of GoDaddy stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $177.08, for a total value of $110,675.00. Following the completion of the transaction, the chief financial officer directly owned 73,459 shares of the company's stock, valued at $13,008,119.72. The trade was a 0.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Phontip Palitwanon sold 2,173 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total value of $386,511.51. Following the sale, the chief accounting officer directly owned 21,198 shares in the company, valued at approximately $3,770,488.26. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,757 shares of company stock valued at $4,790,285 in the last quarter. Corporate insiders own 0.61% of the company's stock.

GoDaddy Trading Down 3.2%

Shares of GoDaddy stock opened at $156.42 on Monday. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50-day moving average of $174.54 and a 200-day moving average of $181.36. GoDaddy Inc. has a 52-week low of $144.72 and a 52-week high of $216.00. The stock has a market cap of $22.29 billion, a PE ratio of 30.08 and a beta of 1.08.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $2.76 EPS. The business's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Morgan Stanley dropped their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Royal Bank Of Canada reissued an "outperform" rating and set a $225.00 target price on shares of GoDaddy in a report on Monday, June 23rd. Finally, Citigroup dropped their price target on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $214.86.

GoDaddy Company 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.

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