GoDaddy Inc. (NYSE:GDDY) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its stake in GoDaddy Inc. (NYSE:GDDY - Free Report) by 6.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,263 shares of the technology company's stock after buying 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 hedge funds and other institutional investors also recently modified their holdings of the stock. Private Trust Co. NA lifted its stake in GoDaddy by 591.3% in the 1st 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 in the last quarter. Rakuten Securities Inc. raised its holdings in shares of GoDaddy by 311.3% in the fourth quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock worth $43,000 after acquiring an additional 165 shares during the last quarter. City Holding Co. lifted its position in shares of GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after acquiring an additional 60 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of GoDaddy during the fourth quarter valued at $52,000. Finally, Crewe Advisors LLC purchased a new stake in GoDaddy during the 1st quarter worth about $53,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Up 0.8%

Shares of GoDaddy stock traded up $1.33 during trading hours on Monday, reaching $178.65. The stock had a trading volume of 1,470,144 shares, compared to its average volume of 1,333,436. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. GoDaddy Inc. has a 1 year low of $140.11 and a 1 year high of $216.00. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of 34.70 and a beta of 1.05. The firm has a 50 day simple moving average of $181.49 and a two-hundred day simple moving average of $185.62.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $1.27 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 during the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the business posted $2.76 EPS. The business's revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on GDDY. Wall Street Zen lowered shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. 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. Citigroup lowered their target price on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Friday, April 25th. 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 report on Wednesday, April 16th. Finally, Piper Sandler raised their price objective on GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $214.86.

Insiders Place Their Bets

In other news, CEO Amanpal Singh Bhutani sold 6,000 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $176.93, for a total value 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. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 625 shares of GoDaddy stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $177.08, for a total transaction of $110,675.00. Following the sale, the chief financial officer directly owned 73,459 shares in the company, valued at $13,008,119.72. This trade represents a 0.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,757 shares of company stock valued at $12,246,080. 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.