Czech National Bank Boosts Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• The Czech National Bank increased its stake in GoDaddy Inc. by 7.4% in the second quarter, bringing its ownership to 34,829 shares valued at approximately $6.27 million.
• Despite receiving several price target cuts from brokerages, GoDaddy has a consensus rating of "Moderate Buy" with an average price target of $202.43.
• GoDaddy reported a net margin of 17.01% and earnings per share of $1.41 for the last quarter, exceeding expectations and showing an 8.3% year-over-year revenue increase.

Czech National Bank raised its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 7.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,829 shares of the technology company's stock after acquiring an additional 2,396 shares during the period. Czech National Bank's holdings in GoDaddy were worth $6,271,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GDDY. Royal Bank Of Canada lowered their price target on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Barclays decreased their price objective on GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Raymond James Financial decreased their price objective on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an "overweight" rating in a report on Friday, August 8th. Finally, Wells Fargo & Company decreased their price objective on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.43.

GoDaddy Trading Down 1.0%

Shares of NYSE GDDY traded down $1.43 during midday trading on Friday, hitting $144.93. 3,507,130 shares of the company traded hands, compared to its average volume of 1,405,050. GoDaddy Inc. has a 12-month low of $132.51 and a 12-month high of $216.00. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a 50-day moving average price of $152.05 and a 200 day moving average price of $169.32. The firm has a market cap of $20.07 billion, a P/E ratio of 25.88, a P/E/G ratio of 1.56 and a beta of 1.02.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The business's revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 1,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $145.71, for a total value of $145,710.00. Following the completion of the sale, the chief operating officer directly owned 251,949 shares of the company's stock, valued at $36,711,488.79. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Phontip Palitwanon sold 777 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $110,497.17. Following the transaction, the chief accounting officer directly owned 20,421 shares of the company's stock, valued at $2,904,070.41. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,828 shares of company stock valued at $5,394,638 in the last quarter. Insiders own 0.70% of the company's stock.

About GoDaddy

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.