Bank of America Corp DE Has $114.38 Million Stake in GoDaddy Inc. $GDDY

Key Points

• Bank of America increased its GoDaddy stake by 27.9% in the first quarter, acquiring 302,126 additional shares and bringing its holdings to 1.38 million shares valued at approximately $114.4 million. Institutional investors collectively own 90.28% of GoDaddy.
• GoDaddy exceeded quarterly expectations, reporting earnings of $1.83 per share versus the $1.69 consensus and revenue of $1.30 billion, up 6.6% year over year. Analysts expect full-year earnings of $7.21 per share.
• Analyst sentiment remains positive but mixed: GoDaddy has a “Moderate Buy” consensus rating and an average price target of $110.33, while several firms recently lowered targets or shifted to more cautious ratings. Insiders have sold $1.85 million of stock over the past 90 days, including sales conducted under pre-arranged trading plans.

Bank of America Corp DE grew its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 27.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,383,615 shares of the technology company's stock after purchasing an additional 302,126 shares during the quarter. Bank of America Corp DE owned about 1.04% of GoDaddy worth $114,383,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. WCM Investment Management LLC raised its position in GoDaddy by 1.0% in the 1st quarter. WCM Investment Management LLC now owns 3,314,456 shares of the technology company's stock worth $270,924,000 after purchasing an additional 33,509 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in GoDaddy by 11.0% during the 4th quarter. JPMorgan Chase & Co. now owns 3,216,382 shares of the technology company's stock worth $399,089,000 after buying an additional 319,515 shares in the last quarter. AQR Capital Management LLC boosted its position in GoDaddy by 117.5% in the 4th quarter. AQR Capital Management LLC now owns 2,989,931 shares of the technology company's stock valued at $370,991,000 after buying an additional 1,615,005 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in GoDaddy by 2.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,821,379 shares of the technology company's stock valued at $350,077,000 after buying an additional 56,086 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of GoDaddy by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,733,028 shares of the technology company's stock valued at $339,116,000 after buying an additional 235,981 shares during the period. Institutional investors own 90.28% of the company's stock.

GoDaddy Stock Performance

GDDY stock opened at $90.59 on Friday. GoDaddy Inc. has a 1-year low of $71.59 and a 1-year high of $155.90. The company has a current ratio of 0.63, a quick ratio of 0.67 and a debt-to-equity ratio of 561.10. The firm has a market cap of $11.99 billion, a PE ratio of 13.44, a P/E/G ratio of 0.82 and a beta of 0.90. The business's 50-day moving average price is $86.81 and its two-hundred day moving average price is $88.14.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The technology company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.14. GoDaddy had a return on equity of 660.96% and a net margin of 17.83%.The business had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same quarter in the previous year, the business posted $1.41 EPS. GoDaddy's revenue for the quarter was up 6.6% on a year-over-year basis. As a group, research analysts forecast that GoDaddy Inc. will post 7.21 earnings per share for the current year.

Insider Activity at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 4,500 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $83.15, for a total value of $374,175.00. Following the sale, the chief executive officer directly owned 517,247 shares in the company, valued at $43,009,088.05. The trade was a 0.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sigal Zarmi sold 350 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $87.84, for a total value of $30,744.00. Following the transaction, the director directly owned 5,708 shares of the company's stock, valued at $501,390.72. This represents a 5.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 21,251 shares of company stock valued at $1,854,403. Insiders own 0.93% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Cantor Fitzgerald reiterated a "neutral" rating and issued a $90.00 price objective on shares of GoDaddy in a research report on Friday, July 31st. Wedbush dropped their price target on shares of GoDaddy from $109.00 to $93.00 and set an "outperform" rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered shares of GoDaddy to a "buy" rating in a report on Friday, July 31st. Piper Sandler reaffirmed a "neutral" rating and issued a $95.00 price objective (up from $93.00) on shares of GoDaddy in a research note on Friday, July 31st. Finally, Raymond James Financial cut GoDaddy from a "strong-buy" rating to an "outperform" rating and set a $100.00 price objective for the company. in a research note on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $110.33.

Trending Headlines about GoDaddy

Here are the key news stories impacting GoDaddy this week:

• Positive Sentiment: Recent earnings exceeded expectations. GoDaddy reported quarterly EPS of $1.83 versus the $1.69 consensus estimate, while revenue reached $1.30 billion, ahead of forecasts and up 6.6% year over year. Analysts’ average price target of approximately $110.33 remains above the current trading range, suggesting potential upside if concerns ease. GoDaddy earnings and analyst data
• Neutral Sentiment: CEO stock sale was disclosed. Amanpal Singh Bhutani sold 4,500 shares for approximately $374,000, reducing his direct holdings by 0.86%. Because the transaction occurred under a pre-arranged Rule 10b5-1 plan and left him with more than 517,000 shares, it is a limited signal of management’s current outlook. SEC insider trading filing
• Negative Sentiment: Law firms announced investigations into possible securities-law violations. Kaplan Fox and Rosen Law Firm are seeking information from GoDaddy investors regarding allegations that the company may have issued materially misleading business information. The announcements do not establish wrongdoing, but they raise potential litigation, reputational and disclosure risks and could increase volatility. Rosen Law Firm investigation Kaplan Fox investigation
• Negative Sentiment: Analysts have become more cautious. Wedbush lowered its price target to $93 from $109, while Citigroup also reduced its expectations. Other recent actions included rating downgrades or moves to more neutral stances, potentially weighing on investor confidence despite the broader “Moderate Buy” consensus. Wedbush forecast Citigroup expectations

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.

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