Assenagon Asset Management S.A. Raises Holdings in GoDaddy Inc. (NYSE:GDDY)

Assenagon Asset Management S.A. raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 1,412.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,347,434 shares of the technology company's stock after buying an additional 1,258,324 shares during the period. Assenagon Asset Management S.A. owned about 0.95% of GoDaddy worth $242,727,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in GoDaddy by 445.4% in the 1st quarter. SG Americas Securities LLC now owns 40,159 shares of the technology company's stock worth $7,234,000 after acquiring an additional 32,796 shares in the last quarter. Abacus FCF Advisors LLC bought a new position in shares of GoDaddy in the first quarter worth approximately $10,300,000. Pallas Capital Advisors LLC increased its stake in shares of GoDaddy by 10.8% in the first quarter. Pallas Capital Advisors LLC now owns 4,802 shares of the technology company's stock worth $865,000 after purchasing an additional 468 shares in the last quarter. City Holding Co. raised its position in shares of GoDaddy by 30.0% during the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after purchasing an additional 60 shares during the period. Finally, Range Financial Group LLC lifted its stake in shares of GoDaddy by 14.8% during the 1st quarter. Range Financial Group LLC now owns 2,541 shares of the technology company's stock valued at $458,000 after buying an additional 327 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley decreased their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen cut GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Barclays cut their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Jefferies Financial Group lowered their target price on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Finally, B. Riley upped their target price on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $214.86.

GoDaddy Trading Up 0.6%

NYSE GDDY traded up $0.99 during trading hours on Thursday, hitting $177.90. 383,130 shares of the company were exchanged, compared to its average volume of 1,474,089. GoDaddy Inc. has a 52 week low of $135.73 and a 52 week high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The stock has a 50-day moving average price of $179.64 and a 200 day moving average price of $189.08. The stock has a market cap of $25.35 billion, a PE ratio of 27.58 and a beta of 1.07.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. GoDaddy's revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.76 EPS. Analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total transaction of $1,246,442.92. Following the sale, the chief executive officer now owns 431,015 shares of the company's stock, valued at $77,500,807.15. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Phontip Palitwanon sold 684 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total value of $122,990.04. Following the completion of the sale, the chief accounting officer now directly owns 23,371 shares of the company's stock, valued at approximately $4,202,339.51. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,459 shares of company stock worth $12,214,374. Insiders own 0.61% of the company's stock.

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.