Asset Management One Co. Ltd. Increases Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Asset Management One Co. Ltd. lifted its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,479 shares of the technology company's stock after acquiring an additional 7,806 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.06% of GoDaddy worth $15,939,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of GoDaddy during the fourth quarter worth $356,038,000. Assenagon Asset Management S.A. lifted its holdings in GoDaddy by 1,412.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock worth $242,727,000 after buying an additional 1,258,324 shares during the period. Canada Pension Plan Investment Board grew its position in shares of 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 buying an additional 719,000 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of 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 period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of 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 acquiring an additional 507,374 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

Insider Activity at GoDaddy

In other news, CAO Phontip Palitwanon sold 2,173 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total value of $386,511.51. Following the completion of the transaction, the chief accounting officer owned 21,198 shares of the company's stock, valued at approximately $3,770,488.26. This 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, CFO Mark Mccaffrey sold 37,500 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $180.95, for a total value of $6,785,625.00. Following the completion of the transaction, the chief financial officer owned 77,250 shares of the company's stock, valued at approximately $13,978,387.50. This trade represents a 32.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,632 shares of company stock valued at $12,602,635 over the last quarter. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on GDDY. Jefferies Financial Group lowered their price target on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a report on Monday, April 7th. Benchmark restated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Morgan Stanley decreased their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Barclays cut their target price on GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $214.86.

GoDaddy Stock Down 0.0%

GoDaddy stock traded down $0.05 during trading on Monday, hitting $180.02. 1,483,342 shares of the company were exchanged, compared to its average volume of 1,335,125. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The business's 50 day moving average is $181.70 and its 200 day moving average is $186.59. GoDaddy Inc. has a 52 week low of $138.48 and a 52 week high of $216.00. The company has a market capitalization of $25.65 billion, a P/E ratio of 34.62 and a beta of 1.07.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $2.76 earnings per share. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. Analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

GoDaddy Company 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.