GoDaddy Inc. (NYSE:GDDY) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale reduced its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 10.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 35,654 shares of the technology company's stock after selling 4,068 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in GoDaddy were worth $6,278,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of GDDY. Norges Bank acquired a new position in GoDaddy in the 4th quarter valued at $356,038,000. Assenagon Asset Management S.A. increased its stake in GoDaddy by 1,412.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock valued at $242,727,000 after buying an additional 1,258,324 shares during the period. Canada Pension Plan Investment Board increased its stake in 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 period. GAMMA Investing LLC increased its stake in GoDaddy by 18,248.7% in the 1st 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 increased its stake in GoDaddy by 88.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock valued at $213,630,000 after buying an additional 507,374 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on GDDY. Wall Street Zen lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Jefferies Financial Group decreased their target price on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. Morgan Stanley decreased their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Citigroup decreased their target price on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Benchmark restated a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Seven investment 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

GoDaddy Price Performance

GoDaddy stock opened at $167.75 on Friday. GoDaddy Inc. has a 52 week low of $140.11 and a 52 week 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 firm's 50-day simple moving average is $180.38 and its 200 day simple moving average is $184.99. The firm has a market capitalization of $23.90 billion, a PE ratio of 32.26 and a beta of 1.05.

GoDaddy (NYSE:GDDY - Get Free Report) last released 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). The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. GoDaddy's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $2.76 earnings per share. On average, equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 6,932 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total value of $1,246,442.92. Following the transaction, the chief executive officer directly owned 431,015 shares in the company, valued at approximately $77,500,807.15. This represents a 1.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $171.75, for a total transaction of $171,750.00. Following the completion of the transaction, the chief operating officer owned 256,949 shares in the company, valued at approximately $44,130,990.75. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,757 shares of company stock valued at $12,246,080 in the last 90 days. Company insiders own 0.61% of the company's stock.

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.

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