AIA Group Ltd Has $4.86 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Key Points

• AIA Group Ltd has increased its stake in GoDaddy Inc. by 55.2% in Q1, now holding 26,999 shares valued at nearly $4.86 million.
• GoDaddy reported earnings of $1.41 per share, exceeding estimates, and achieved a revenue of $1.22 billion, marking an 8.3% increase year-over-year.
• Recent analyst ratings for GoDaddy show a mix of outlooks, with price targets ranging from $182 to $240, indicating a general consensus rate of "Moderate Buy" across the market.

AIA Group Ltd increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 55.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 26,999 shares of the technology company's stock after purchasing an additional 9,600 shares during the period. AIA Group Ltd's holdings in GoDaddy were worth $4,864,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GDDY. Motley Fool Asset Management LLC increased its stake in GoDaddy by 16.0% during the first quarter. Motley Fool Asset Management LLC now owns 3,709 shares of the technology company's stock valued at $668,000 after acquiring an additional 512 shares during the period. Nuveen LLC bought a new position in GoDaddy during the first quarter valued at about $78,759,000. Invesco Ltd. increased 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 valued at $597,317,000 after acquiring an additional 401,918 shares during the period. JPMorgan Chase & Co. increased 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 valued at $439,525,000 after acquiring an additional 710,842 shares during the period. Finally, MUFG Securities EMEA plc increased its stake in GoDaddy by 88.0% during the first quarter. MUFG Securities EMEA plc now owns 47,000 shares of the technology company's stock valued at $8,467,000 after acquiring an additional 22,001 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Morgan Stanley lowered their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Raymond James Financial lowered their price objective on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock 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. Finally, Benchmark restated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, GoDaddy has a consensus rating of "Moderate Buy" and an average target price of $202.43.

GoDaddy Stock Performance

NYSE:GDDY traded up $0.31 during mid-day trading on Thursday, hitting $143.63. The stock had a trading volume of 3,027,975 shares, compared to its average volume of 1,584,226. GoDaddy Inc. has a twelve month low of $132.51 and a twelve month high of $216.00. The stock has a market cap of $20.47 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.52 and a beta of 1.08. The company's 50 day simple moving average is $168.91 and its 200 day simple moving average is $178.46. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.56 and a current ratio of 0.64.

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, beating the consensus estimate of $1.34 by $0.07. The business had revenue of $1.22 billion during 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%. GoDaddy's revenue was up 8.3% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. On average, equities research analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Phontip Palitwanon sold 2,173 shares of GoDaddy stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the sale, the chief accounting officer directly owned 21,198 shares in the company, valued at approximately $3,770,488.26. The trade was a 9.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 6,000 shares of GoDaddy stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $159.46, for a total transaction of $956,760.00. Following the completion of the transaction, the chief executive officer directly owned 419,015 shares in the company, valued at $66,816,131.90. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,257 shares of company stock valued at $5,639,070 in the last quarter. Corporate insiders own 0.70% of the company's stock.

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.