AustralianSuper Pty Ltd Acquires 99,932 Shares of GoDaddy Inc. (NYSE:GDDY)

AustralianSuper Pty Ltd raised its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 27.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,397 shares of the technology company's stock after acquiring an additional 99,932 shares during the period. AustralianSuper Pty Ltd owned approximately 0.32% of GoDaddy worth $82,576,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDDY. Price T Rowe Associates Inc. MD grew its position in shares of GoDaddy by 11.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock valued at $751,778,000 after buying an additional 395,160 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GoDaddy by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 3,514,432 shares of the technology company's stock valued at $692,245,000 after purchasing an additional 90,810 shares during the period. WCM Investment Management LLC raised its stake in GoDaddy by 2.0% during the 1st quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company's stock worth $620,931,000 after buying an additional 67,152 shares during the period. Invesco Ltd. raised its stake in GoDaddy by 11.6% during the 4th quarter. Invesco Ltd. now owns 2,913,930 shares of the technology company's stock worth $575,122,000 after buying an additional 304,033 shares during the period. Finally, Norges Bank acquired a new position in GoDaddy during the 4th quarter worth approximately $356,038,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Trading Up 0.3%

GoDaddy stock traded up $0.51 during midday trading on Friday, reaching $168.80. 1,272,037 shares of the stock traded hands, compared to its average volume of 1,344,198. The company has a 50-day simple moving average of $178.96 and a two-hundred day simple moving average of $183.72. GoDaddy Inc. has a 12-month low of $140.11 and a 12-month high of $216.00. The firm has a market cap of $24.05 billion, a PE ratio of 32.46 and a beta of 1.05. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. GoDaddy's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.76 EPS. Research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Phontip Palitwanon sold 2,173 shares of the company's 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 $3,770,488.26. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Mccaffrey sold 37,500 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $180.95, for a total value of $6,785,625.00. Following the sale, the chief financial officer owned 77,250 shares in the company, valued at approximately $13,978,387.50. The trade was a 32.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,757 shares of company stock worth $12,243,920. Insiders own 0.61% of the company's stock.

Analyst Ratings Changes

GDDY has been the subject of several research reports. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Jefferies Financial Group reduced their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a report on Monday, June 23rd. Citigroup cut their price objective on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $214.86.

GoDaddy 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.