Kovitz Investment Group Partners LLC Acquires 27,689 Shares of GoDaddy Inc. $GDDY

Key Points

• Kovitz Investment Group Partners LLC significantly increased its stake in GoDaddy Inc. by 1,546.9% during the first quarter, now holding shares worth $5.31 million.
• Other major institutional investors, including Goldman Sachs and GAMMA Investing LLC, also boosted their stakes in GoDaddy, reflecting a strong interest in the technology company.
• Going forward, analysts have mixed outlooks, with target prices for GoDaddy ranging from $157 to $214, while the consensus rating remains a "Moderate Buy".

Kovitz Investment Group Partners LLC raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 1,546.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,479 shares of the technology company's stock after buying an additional 27,689 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in GoDaddy were worth $5,310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Goldman Sachs Group Inc. increased its holdings in shares of GoDaddy by 257.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company's stock worth $402,946,000 after buying an additional 1,610,890 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in GoDaddy by 1,412.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock valued at $242,727,000 after acquiring an additional 1,258,324 shares during the last quarter. JPMorgan Chase & Co. raised its position in GoDaddy by 41.1% during the first quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock valued at $439,525,000 after purchasing an additional 710,842 shares in the last quarter. Pacer Advisors Inc. lifted its stake in GoDaddy by 893.4% during the first quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company's stock worth $116,685,000 after purchasing an additional 582,539 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in GoDaddy by 18,248.7% during the first quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock worth $92,516,000 after purchasing an additional 510,780 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GDDY has been the topic of a number of research reports. Piper Sandler set a $182.00 price objective on GoDaddy and gave the company an "overweight" rating in a report on Friday, August 8th. Wall Street Zen cut shares of GoDaddy from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. boosted their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Royal Bank Of Canada reduced their target price on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, Citigroup lowered their price target on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $202.43.

GoDaddy Trading Down 0.2%

Shares of GDDY stock traded down $0.2340 during mid-day trading on Thursday, reaching $146.0960. The stock had a trading volume of 1,011,799 shares, compared to its average volume of 1,587,861. The firm has a market capitalization of $20.23 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.56 and a beta of 1.08. The stock's 50-day moving average price is $165.43 and its two-hundred day moving average price is $176.16. 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 Inc. has a 52-week low of $132.51 and a 52-week high of $216.00.

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

Insiders Place Their Bets

In related news, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total value of $596,429.77. Following the completion of the transaction, the chief financial officer directly owned 74,084 shares of the company's stock, valued at $13,321,044.04. This represents a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $169.59, for a total value of $169,590.00. Following the sale, the chief operating officer directly owned 253,949 shares in the company, valued at approximately $43,067,210.91. The trade was a 0.39% decrease in their ownership of the stock. 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 ninety days. 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.