IFM Investors Pty Ltd Purchases 2,599 Shares of GoDaddy Inc. (NYSE:GDDY)

IFM Investors Pty Ltd increased its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 6.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,263 shares of the technology company's stock after purchasing an additional 2,599 shares during the period. IFM Investors Pty Ltd's holdings in GoDaddy were worth $8,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GDDY. Advisors Capital Management LLC lifted its position in shares of GoDaddy by 0.9% during the 4th quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after buying an additional 55 shares during the last quarter. BNP Paribas grew its stake in GoDaddy by 2.9% during the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after purchasing an additional 59 shares during the period. City Holding Co. grew its stake in GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after purchasing an additional 60 shares during the period. NorthCrest Asset Manangement LLC grew its stake in GoDaddy by 0.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock valued at $1,435,000 after acquiring an additional 67 shares during the period. Finally, Rehmann Capital Advisory Group grew its stake in GoDaddy by 4.1% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company's stock valued at $344,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 90.28% of the company's stock.

Insider Activity at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred 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. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 6,000 shares of GoDaddy stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $176.93, for a total transaction of $1,061,580.00. Following the completion of the transaction, the chief executive officer directly owned 425,015 shares in the company, valued at approximately $75,197,903.95. The trade was a 1.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,757 shares of company stock worth $12,246,080 over the last 90 days. Insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

GDDY has been the topic of several research reports. 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 note on Tuesday, May 6th. Morgan Stanley lowered their price target on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Citigroup dropped their price target on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $225.00 price target on shares of GoDaddy in a research report on Monday, June 23rd. Finally, Piper Sandler lifted their price target on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Seven 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. According to data from MarketBeat, GoDaddy presently has a consensus rating of "Moderate Buy" and an average target price of $214.86.

GoDaddy Stock Performance

Shares of NYSE:GDDY traded down $1.70 during midday trading on Wednesday, hitting $175.34. The stock had a trading volume of 586,306 shares, compared to its average volume of 1,330,917. 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 company has a market capitalization of $24.98 billion, a PE ratio of 33.72 and a beta of 1.05. The stock has a 50 day moving average price of $181.26 and a two-hundred day moving average price of $185.56. GoDaddy Inc. has a 1 year low of $140.11 and a 1 year high of $216.00.

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

About GoDaddy

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.