Korea Investment CORP Raises Stock Holdings in GoDaddy Inc. $GDDY

Key Points

• Korea Investment CORP increased its stake in GoDaddy Inc. by 2.2% in Q1, holding 130,639 shares valued at approximately $23.5 million.
• Various large investors also increased their positions in GoDaddy during the first quarter, with institutional investors now owning 90.28% of the company's stock.
• GoDaddy reported a quarterly earnings per share of $1.41, exceeding expectations, with revenue of $1.22 billion, reflecting an 8.3% year-over-year increase.

Korea Investment CORP raised its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 130,639 shares of the technology company's stock after purchasing an additional 2,833 shares during the quarter. Korea Investment CORP owned 0.09% of GoDaddy worth $23,533,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cornerstone Planning Group LLC grew its stake in shares of GoDaddy by 123.4% during the 1st quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock valued at $25,000 after purchasing an additional 79 shares during the period. Park Square Financial Group LLC bought a new stake in shares of GoDaddy during the 1st quarter valued at about $27,000. Private Trust Co. NA grew its stake in shares of GoDaddy by 591.3% during the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after purchasing an additional 136 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of GoDaddy during the 1st quarter valued at about $30,000. Finally, GW&K Investment Management LLC grew its stake in shares of GoDaddy by 307.9% during the 1st quarter. GW&K Investment Management LLC now owns 257 shares of the technology company's stock valued at $46,000 after purchasing an additional 194 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company cut their price target on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Raymond James Financial cut their price target on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a research note on Friday, August 8th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Benchmark reaffirmed a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Finally, Barclays lowered their price objective on GoDaddy from $235.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, GoDaddy currently has an average rating of "Moderate Buy" and an average target price of $202.43.

GoDaddy Stock Up 1.2%

Shares of GDDY opened at $146.4170 on Thursday. The business's 50 day moving average is $165.43 and its 200 day moving average is $176.16. The company has a market capitalization of $20.27 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.56 and a beta of 1.08. GoDaddy Inc. has a 12-month low of $132.51 and a 12-month high of $216.00. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The firm's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 6,000 shares of GoDaddy stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $159.46, for a total transaction 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 trade represents a 1.41% decrease in their position. 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 that occurred on Wednesday, July 2nd. The shares were sold at an average price of $177.08, for a total value 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. Insiders have sold 33,881 shares of company stock worth $5,869,390 in the last three months. Corporate insiders own 0.70% of the company's stock.

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.

Want to see what other hedge funds are holding GDDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GoDaddy Inc. (NYSE:GDDY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.