GoDaddy Inc. (NYSE:GDDY) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 348.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 202,929 shares of the technology company's stock after acquiring an additional 157,687 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.14% of GoDaddy worth $36,556,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new stake in GoDaddy during the 4th quarter worth approximately $356,038,000. Assenagon Asset Management S.A. increased its holdings in shares of GoDaddy by 1,412.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company's stock worth $242,727,000 after buying an additional 1,258,324 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in GoDaddy by 107.8% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after acquiring an additional 719,000 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of GoDaddy by 18,248.7% in the 1st quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock worth $92,516,000 after acquiring an additional 510,780 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in GoDaddy by 88.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company's stock valued at $213,630,000 after buying an additional 507,374 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

GoDaddy Stock Up 0.3%

GDDY stock traded up $0.51 during midday trading on Friday, hitting $168.80. The company's stock had a trading volume of 1,272,037 shares, compared to its average volume of 1,344,198. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 18.91. The firm has a market capitalization of $24.05 billion, a P/E ratio of 32.46 and a beta of 1.05. GoDaddy Inc. has a 52-week low of $140.11 and a 52-week high of $216.00. The firm has a 50-day simple moving average of $178.96 and a 200-day simple moving average of $183.72.

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). The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.76 EPS. As a group, equities analysts forecast that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Activity at GoDaddy

In other GoDaddy news, CAO Phontip Palitwanon sold 2,173 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $177.87, for a total value of $386,511.51. Following the transaction, the chief accounting officer directly owned 21,198 shares of the company's stock, valued at approximately $3,770,488.26. The trade was a 9.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the company's stock in a transaction 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 completion of the transaction, the chief operating officer owned 253,949 shares of the company's stock, valued at $43,067,210.91. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,757 shares of company stock valued at $12,243,920. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on GDDY. Citigroup dropped their price objective on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Royal Bank Of Canada restated an "outperform" rating and issued a $225.00 target price on shares of GoDaddy in a report on Monday, June 23rd. Piper Sandler upped their price target on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Benchmark reissued a "buy" rating on shares of GoDaddy in a research report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.86.

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.