Canada Pension Plan Investment Board Raises Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• The Canada Pension Plan Investment Board increased its stake in GoDaddy Inc. by 8.5% in the first quarter, now totaling approximately $270.9 million or 1.06% ownership of the company.
• Several hedge funds also boosted their positions in GoDaddy, with JPMorgan Chase & Co. leading the way with a 41.1% increase in ownership during the same period.
• GoDaddy recently reported earnings of $1.41 per share, exceeding analysts' expectations of $1.34, alongside a revenue increase of 8.3% year-over-year.

Canada Pension Plan Investment Board grew its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,503,755 shares of the technology company's stock after buying an additional 117,618 shares during the quarter. Canada Pension Plan Investment Board owned approximately 1.06% of GoDaddy worth $270,886,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company's stock worth $3,266,697,000 after acquiring an additional 462,807 shares during the period. WCM Investment Management LLC boosted its stake in shares of GoDaddy by 2.0% in the first quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company's stock worth $620,931,000 after acquiring an additional 67,152 shares during the period. Invesco Ltd. boosted its stake in shares of GoDaddy by 13.8% in the first quarter. Invesco Ltd. now owns 3,315,848 shares of the technology company's stock worth $597,317,000 after acquiring an additional 401,918 shares during the period. Wellington Management Group LLP boosted its stake in shares of GoDaddy by 13.4% in the first quarter. Wellington Management Group LLP now owns 3,147,646 shares of the technology company's stock worth $567,017,000 after acquiring an additional 371,188 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of GoDaddy by 41.1% in the first quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock worth $439,525,000 after acquiring an additional 710,842 shares during the period. Institutional investors own 90.28% of the company's stock.

GoDaddy Trading Up 0.1%

Shares of GDDY stock opened at $147.94 on Friday. 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 current ratio of 0.64 and a quick ratio of 0.64. The stock's 50 day simple moving average is $161.82 and its two-hundred day simple moving average is $173.50. The company has a market cap of $20.48 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.08.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The company's quarterly 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. Research analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Leah Sweet sold 650 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $141.14, for a total transaction of $91,741.00. Following the sale, the director directly owned 12,064 shares in the company, valued at $1,702,712.96. This represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $143.53, for a total value of $143,530.00. Following the sale, the chief operating officer owned 252,949 shares in the company, valued at approximately $36,305,769.97. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,881 shares of company stock valued at $5,869,390. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GDDY shares. Royal Bank Of Canada dropped 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. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Piper Sandler set a $182.00 price target on GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Barclays dropped their price target on GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Raymond James Financial dropped their price target on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, GoDaddy presently has an average rating of "Moderate Buy" and a consensus target price of $202.43.

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.

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