Vanguard Group Inc. Has $3.27 Billion Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Key Points

• Vanguard Group Inc. increased its stake in GoDaddy Inc. by 2.6%, owning approximately 18 million shares valued at about $3.27 billion.
• Several brokerages have downgraded GoDaddy's stock ratings, with Barclays lowering its price target from $235 to $200.
• GoDaddy reported quarterly earnings of $1.41 per share, surpassing analysts' expectations of $1.34, with an 8.3% increase in revenue year-over-year.

Vanguard Group Inc. grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,134,214 shares of the technology company's stock after purchasing an additional 462,807 shares during the period. Vanguard Group Inc. owned 12.83% of GoDaddy worth $3,266,697,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of GoDaddy during the fourth quarter worth about $44,668,000. FIL Ltd bought a new position in GoDaddy in the 4th quarter valued at about $5,920,000. Advisory Services Network LLC bought a new position in GoDaddy in the 4th quarter valued at about $1,485,000. Bessemer Group Inc. grew its position in GoDaddy by 19.0% in the 4th quarter. Bessemer Group Inc. now owns 22,617 shares of the technology company's stock valued at $4,464,000 after buying an additional 3,607 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in GoDaddy by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 83,971 shares of the technology company's stock valued at $16,573,000 after buying an additional 855 shares in the last quarter. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $179.81, for a total value of $1,246,442.92. Following the transaction, the chief executive officer owned 431,015 shares in the company, valued at approximately $77,500,807.15. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 in the company, valued at $3,770,488.26. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,257 shares of company stock worth $5,827,280. Corporate insiders own 0.70% of the company's stock.

GoDaddy Stock Up 1.7%

NYSE:GDDY traded up $2.28 during mid-day trading on Monday, reaching $135.63. The stock had a trading volume of 4,309,378 shares, compared to its average volume of 1,553,733. The business's 50 day moving average is $170.51 and its 200 day moving average is $178.98. GoDaddy Inc. has a fifty-two week low of $132.51 and a fifty-two week high of $216.00. The stock has a market cap of $19.33 billion, a P/E ratio of 24.22 and a beta of 1.08. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.64 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping 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 firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. The firm's revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Raymond James Financial decreased their target price on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a research report on Friday. Citigroup decreased their target price on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research report on Friday. Morgan Stanley cut their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Royal Bank Of Canada cut their price target on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $202.43.

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.