Deutsche Bank AG Boosts Position in GoDaddy Inc. (NYSE:GDDY)

Key Points

• Deutsche Bank AG increased its stake in GoDaddy by 54.4%, owning approximately 1.29 million shares valued at $232.56 million as of the latest SEC filing.
• Several other institutional investors also boosted their positions in GoDaddy, with 90.28% of the stock currently owned by hedge funds and institutional investors.
• GoDaddy reported earnings per share of $1.41 for the latest quarter, surpassing analyst expectations of $1.34, alongside revenues of $1.22 billion.

Deutsche Bank AG increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 54.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,290,982 shares of the technology company's stock after acquiring an additional 455,121 shares during the period. Deutsche Bank AG owned approximately 0.91% of GoDaddy worth $232,557,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC increased its holdings in GoDaddy by 123.4% during the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after buying an additional 79 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in GoDaddy during the first quarter valued at approximately $27,000. Private Trust Co. NA increased its holdings in GoDaddy by 591.3% during the first quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after buying an additional 136 shares during the last quarter. GW&K Investment Management LLC increased its holdings in GoDaddy by 307.9% during the first quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock valued at $46,000 after buying an additional 194 shares during the last quarter. Finally, City Holding Co. increased its holdings in GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after buying an additional 60 shares during the last quarter. Institutional investors own 90.28% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GDDY. Wells Fargo & Company dropped their price target on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research report on Friday. Citigroup dropped their price target on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research report on Friday. Royal Bank Of Canada dropped their price target on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday. Wall Street Zen lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley dropped their price target on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $202.43.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 6,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $159.46, for a total value of $956,760.00. Following the sale, the chief executive officer owned 419,015 shares of the company's stock, valued at approximately $66,816,131.90. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 625 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $177.08, for a total transaction of $110,675.00. Following the completion of the transaction, the chief financial officer directly owned 73,459 shares in the company, valued at $13,008,119.72. This represents a 0.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,257 shares of company stock valued at $5,827,280. 0.61% of the stock is currently owned by company insiders.

GoDaddy Price Performance

GDDY stock traded down $16.87 during trading on Friday, hitting $133.38. 5,238,112 shares of the company's stock traded hands, compared to its average volume of 1,721,502. GoDaddy Inc. has a 52 week low of $132.73 and a 52 week high of $216.00. The stock has a market capitalization of $19.01 billion, a price-to-earnings ratio of 23.82 and a beta of 1.08. The business has a fifty day simple moving average of $171.43 and a 200 day simple moving average of $179.67. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. GoDaddy had a net margin of 17.01% and a return on equity of 188.09%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm posted $1.01 EPS. The business's quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal 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.