Assenagon Asset Management S.A. Has $107.70 Million Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• Assenagon Asset Management S.A. has reduced its stake in GoDaddy Inc. (NYSE:GDDY) by 55.6%, now holding 598,123 shares after selling 749,311 shares in the second quarter.
• GoDaddy reported a quarterly revenue of $1.22 billion, exceeding analyst expectations, with earnings per share at $1.41, surpassing the consensus estimate of $1.34.
• Analysts have recently downgraded their target prices for GoDaddy, with Citigroup lowering its target from $234.00 to $214.00, maintaining a "buy" rating.

Assenagon Asset Management S.A. lessened its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 55.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 598,123 shares of the technology company's stock after selling 749,311 shares during the period. Assenagon Asset Management S.A. owned 0.42% of GoDaddy worth $107,698,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GDDY. Vident Advisory LLC grew its position in GoDaddy by 50.9% in the 4th quarter. Vident Advisory LLC now owns 2,169 shares of the technology company's stock valued at $428,000 after acquiring an additional 732 shares in the last quarter. Woodline Partners LP purchased a new stake in GoDaddy in the fourth quarter valued at approximately $2,616,000. Vise Technologies Inc. purchased a new stake in shares of GoDaddy during the fourth quarter worth approximately $255,000. Invst LLC raised its stake in shares of GoDaddy by 1.0% during the fourth quarter. Invst LLC now owns 7,521 shares of the technology company's stock worth $1,484,000 after purchasing an additional 74 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in GoDaddy by 9.8% during the fourth quarter. Mackenzie Financial Corp now owns 121,185 shares of the technology company's stock worth $23,918,000 after acquiring an additional 10,791 shares during the period. Hedge funds and other institutional investors own 90.28% of the company's stock.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 3,326 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $142.21, for a total value of $472,990.46. Following the transaction, the chief financial officer owned 70,133 shares in the company, 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 document filed with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,950 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total value of $988,359.50. Following the completion of the transaction, the chief executive officer owned 412,065 shares in the company, valued at $58,599,763.65. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,828 shares of company stock valued at $5,394,638 in the last ninety days. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

GDDY has been the topic of several research reports. Raymond James Financial lowered their target price on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a report on Friday, August 8th. Piper Sandler set a $182.00 target price on GoDaddy and gave the company an "overweight" rating in a report on Friday, August 8th. 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. Wells Fargo & Company decreased their target price on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Finally, Royal Bank Of Canada decreased their target price on GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a research report 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $202.43.

GoDaddy Stock Up 2.2%

Shares of GDDY stock traded up $3.20 on Monday, reaching $147.96. 1,739,598 shares of the company's stock traded hands, compared to its average volume of 1,590,370. 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 company has a market capitalization of $20.49 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 1.56 and a beta of 1.02. The business's 50 day moving average price is $152.05 and its two-hundred day moving average price is $169.30.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share 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 quarter in the previous year, the company posted $1.01 earnings per share. GoDaddy's revenue for the quarter 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. On average, equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.