APG Asset Management N.V. Has $31.53 Million Stock Position in GoDaddy Inc. $GDDY

Key Points

• APG Asset Management N.V. has reduced its stake in GoDaddy Inc. by 9.1%, following a sale of 18,859 shares, bringing its total ownership to approximately 0.13% of the company worth $31.5 million.
• Affected by recent analyst rating changes, Citigroup adjusted its price target for GoDaddy from $234 to $214, while Wells Fargo reduced its target from $198 to $157, indicating a generally cautious sentiment among analysts.
• GoDaddy reported an earnings per share of $1.41, exceeding expectations and reflecting an 8.3% year-over-year revenue growth to $1.22 billion for the quarter.

APG Asset Management N.V. lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,071 shares of the technology company's stock after selling 18,859 shares during the quarter. APG Asset Management N.V. owned 0.13% of GoDaddy worth $31,531,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. AlphaQuest LLC lifted its position in GoDaddy by 3,154.6% during the 1st quarter. AlphaQuest LLC now owns 5,663 shares of the technology company's stock worth $1,020,000 after acquiring an additional 5,489 shares in the last quarter. Compound Planning Inc. raised its stake in shares of GoDaddy by 8.8% during the first quarter. Compound Planning Inc. now owns 2,322 shares of the technology company's stock valued at $418,000 after purchasing an additional 188 shares during the period. Norinchukin Bank The lifted its position in shares of GoDaddy by 9.6% during the first quarter. Norinchukin Bank The now owns 5,401 shares of the technology company's stock worth $973,000 after purchasing an additional 475 shares in the last quarter. Estate Counselors LLC boosted its stake in shares of GoDaddy by 1.4% in the first quarter. Estate Counselors LLC now owns 15,990 shares of the technology company's stock valued at $2,880,000 after purchasing an additional 225 shares during the period. Finally, GDS Wealth Management boosted its stake in shares of GoDaddy by 424.8% in the first quarter. GDS Wealth Management now owns 51,552 shares of the technology company's stock valued at $9,287,000 after purchasing an additional 41,728 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Analysts Set New Price Targets

GDDY has been the topic of several analyst reports. Wall Street Zen downgraded shares of GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada dropped their target price on GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Citigroup cut their price target on GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company reduced their price target on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. lifted their price objective on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.43.

GoDaddy Trading Down 0.1%

Shares of NYSE:GDDY traded down $0.10 during midday trading on Friday, reaching $147.76. The company had a trading volume of 358,169 shares, compared to its average volume of 1,583,521. The company has a fifty day simple moving average of $161.82 and a two-hundred day simple moving average of $173.50. The firm has a market cap of $20.46 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 1.60 and a beta of 1.08. GoDaddy Inc. has a 1-year low of $132.51 and a 1-year high of $216.00. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, beating 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 company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The business's quarterly revenue was up 8.3% on a year-over-year basis. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity

In other news, COO Roger Chen sold 1,000 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $143.53, for a total value of $143,530.00. Following the transaction, the chief operating officer owned 252,949 shares in the company, valued at $36,305,769.97. This represents a 0.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 625 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $177.08, for a total transaction of $110,675.00. Following the completion of the sale, the chief financial officer directly owned 73,459 shares of the company's stock, valued at $13,008,119.72. This trade represents a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,881 shares of company stock worth $5,869,390. 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.