Exchange Traded Concepts LLC increased its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 99.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,432 shares of the technology company's stock after acquiring an additional 1,710 shares during the quarter. Exchange Traded Concepts LLC's holdings in GoDaddy were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in GoDaddy in the 4th quarter valued at about $356,038,000. Assenagon Asset Management S.A. boosted its holdings in GoDaddy by 1,412.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock valued at $242,727,000 after purchasing an additional 1,258,324 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in GoDaddy by 107.8% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after purchasing an additional 719,000 shares during the last quarter. GAMMA Investing LLC lifted its position in GoDaddy by 18,248.7% in the first quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock valued at $92,516,000 after buying an additional 510,780 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in GoDaddy by 88.2% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock worth $213,630,000 after buying an additional 507,374 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.
GoDaddy Stock Down 1.0%
GDDY stock traded down $1.72 during mid-day trading on Friday, reaching $174.70. The company had a trading volume of 2,132,892 shares, compared to its average volume of 1,352,094. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $24.89 billion, a price-to-earnings ratio of 33.60 and a beta of 1.07. The firm has a fifty day simple moving average of $180.84 and a 200 day simple moving average of $187.76. GoDaddy Inc. has a fifty-two week low of $136.75 and a fifty-two week high of $216.00.
GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. GoDaddy's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.76 EPS. Analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.
Insider Buying and Selling at GoDaddy
In other news, CAO Phontip Palitwanon sold 2,173 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total transaction of $386,511.51. Following the sale, the chief accounting officer now owns 21,198 shares of the company's stock, valued at approximately $3,770,488.26. This trade represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Roger Chen sold 1,000 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the sale, the chief operating officer now directly owns 256,949 shares in the company, valued at $44,130,990.75. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,632 shares of company stock valued at $12,602,635 in the last quarter. Corporate insiders own 0.61% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Morgan Stanley dropped their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Jefferies Financial Group decreased their price target on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. Piper Sandler raised their price target on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Finally, Barclays cut their price objective on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.86.
View Our Latest Stock Analysis on GoDaddy
GoDaddy Company Profile
(
Free Report)
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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