GoDaddy Inc. $GDDY Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs significantly increased its stake in GoDaddy Inc. by 257.3%, acquiring a total of approximately 2.24 million shares valued at nearly $403 million.
• Analyst ratings are mixed, with one Strong Buy, eight Buy, and five Hold ratings, leading to a consensus rating of "Moderate Buy" with a price target around $202.43.
• In recent insider activity, COO Roger Chen sold 1,000 shares of GoDaddy stock, indicating a 0.39% decrease in his holdings.

Goldman Sachs Group Inc. grew its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 257.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,236,850 shares of the technology company's stock after acquiring an additional 1,610,890 shares during the period. Goldman Sachs Group Inc. owned about 1.57% of GoDaddy worth $402,946,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position 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 raised its position 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. raised its position 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 raised its position 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. raised its position 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 and hedge funds own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GDDY shares. Royal Bank Of Canada reduced their target price on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Barclays cut their price target on shares of GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Raymond James Financial cut their price target on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. Piper Sandler set a $182.00 price target on shares of GoDaddy and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company cut their price target on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating on the stock in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, GoDaddy has a consensus rating of "Moderate Buy" and an average price target of $202.43.

GoDaddy Stock Performance

GoDaddy stock traded down $3.29 during midday trading on Friday, hitting $145.30. 974,323 shares of the company's stock were exchanged, compared to its average volume of 1,468,406. 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 market cap of $20.12 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.57 and a beta of 1.02. The firm's 50 day simple moving average is $154.93 and its 200 day simple moving average is $170.39.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results 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. The business 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 quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Mark Mccaffrey sold 3,326 shares of GoDaddy stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total value of $472,990.46. Following the sale, the chief financial officer owned 70,133 shares of the company's stock, valued at $9,973,613.93. The trade was a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $143.53, for a total transaction of $143,530.00. Following the completion of the sale, the chief operating officer directly owned 252,949 shares in the company, valued at approximately $36,305,769.97. The trade was a 0.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,828 shares of company stock valued at $5,424,888. Corporate 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.