Caisse DE Depot ET Placement DU Quebec Sells 448,114 Shares of GoDaddy Inc. $GDDY

Key Points

• Caisse DE Depot ET Placement DU Quebec has reduced its holdings in GoDaddy Inc. by 41.4%, selling 448,114 shares, bringing total ownership to approximately 0.45% valued at $114.3 million.
• GoDaddy reported earnings of $1.41 per share for the last quarter, surpassing estimates, with revenue growth of 8.3% year-over-year, reaching $1.22 billion.
• Several hedge funds have recently adjusted their positions in GoDaddy, with a current 90.28% ownership by institutional investors, indicating significant interest in the company.

Caisse DE Depot ET Placement DU Quebec reduced its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 41.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 634,267 shares of the technology company's stock after selling 448,114 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.45% of GoDaddy worth $114,257,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GDDY. Cornerstone Planning Group LLC raised its stake in GoDaddy by 123.4% during the 1st 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 period. Park Square Financial Group LLC acquired a new position in GoDaddy during the 1st quarter worth approximately $27,000. Private Trust Co. NA raised its stake in GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock worth $29,000 after buying an additional 136 shares during the period. Zions Bancorporation National Association UT acquired a new position in GoDaddy during the 1st quarter worth approximately $30,000. Finally, GW&K Investment Management LLC raised its stake in GoDaddy by 307.9% during the 1st quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock worth $46,000 after buying an additional 194 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total value of $169,590.00. Following the completion of the transaction, the chief operating officer directly owned 253,949 shares of the company's stock, valued at $43,067,210.91. This trade represents a 0.39% decrease in their ownership of the stock. The transaction 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 firm'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 completion of the transaction, the chief accounting officer directly owned 21,198 shares of the company's stock, valued at $3,770,488.26. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,881 shares of company stock valued at $5,869,390 in the last three months. 0.70% of the stock is currently owned by company insiders.

GoDaddy Stock Performance

NYSE GDDY traded up $0.07 on Thursday, hitting $147.94. 1,825,682 shares of the stock traded hands, compared to its average volume of 2,405,322. The business's fifty day moving average is $161.82 and its two-hundred day moving average is $173.50. GoDaddy Inc. has a 12 month low of $132.51 and a 12 month high of $216.00. The firm has a market capitalization of $20.48 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.60 and a beta of 1.08. 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 announced its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.07. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The business 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 company earned $1.01 earnings per share. GoDaddy's revenue was up 8.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on GDDY. Citigroup lowered their price objective on GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank Of Canada lowered their price objective on GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. JPMorgan Chase & Co. increased their price objective on GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Finally, Piper Sandler set a $182.00 price objective on GoDaddy and gave the stock an "overweight" rating in a research note on Friday, August 8th. 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 has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

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.