Bank of New York Mellon Corp Purchases 4,013 Shares of GoDaddy Inc. (NYSE:GDDY)

Bank of New York Mellon Corp lifted its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 953,704 shares of the technology company's stock after acquiring an additional 4,013 shares during the period. Bank of New York Mellon Corp owned approximately 0.67% of GoDaddy worth $171,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in GoDaddy by 68.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company's stock valued at $243,000 after buying an additional 499 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in GoDaddy by 16.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 678 shares of the technology company's stock valued at $134,000 after buying an additional 98 shares in the last quarter. Atria Investments Inc increased its position in GoDaddy by 2.8% in the 4th quarter. Atria Investments Inc now owns 9,298 shares of the technology company's stock valued at $1,835,000 after buying an additional 256 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in GoDaddy in the 4th quarter valued at about $25,554,000. Finally, Raymond James Financial Inc. bought a new stake in GoDaddy in the 4th quarter valued at about $44,668,000. 90.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GDDY shares. Piper Sandler boosted their target price on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their target price on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Jefferies Financial Group cut their price target on GoDaddy from $200.00 to $185.00 and set a "hold" rating for the company in a research note on Monday, April 7th. Citigroup cut their price target on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Morgan Stanley cut their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $214.86.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $179.68, for a total value of $89,840.00. Following the transaction, the director owned 21,957 shares of the company's stock, valued at approximately $3,945,233.76. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Phontip Palitwanon sold 2,173 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total transaction of $386,511.51. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,757 shares of company stock worth $12,246,080. Company insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

GoDaddy stock traded down $3.02 during trading on Friday, hitting $167.75. The stock had a trading volume of 1,655,369 shares, compared to its average volume of 1,337,059. GoDaddy Inc. has a 1 year low of $140.11 and a 1 year high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91. The stock's 50 day moving average is $180.38 and its two-hundred day moving average is $184.99. The stock has a market cap of $23.90 billion, a price-to-earnings ratio of 32.26 and a beta of 1.05.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its 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). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business 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 firm earned $2.76 EPS. The company's revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

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.