Neuberger Berman Group LLC Grows Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Key Points

• Neuberger Berman Group LLC increased its holdings in GoDaddy Inc. by 23.4% during the first quarter, now owning approximately 1.32% of the company valued at $339.34 million.
• Several research firms have changed their target prices for GoDaddy, with a consensus rating of "Moderate Buy" and a target price of $202.43.
• The CFO of GoDaddy sold 3,317 shares recently, marking a 4.29% decrease in their position, amidst a general trend of insider selling with 0.70% of the stock owned by insiders.

Neuberger Berman Group LLC raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 23.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,883,395 shares of the technology company's stock after buying an additional 357,080 shares during the period. Neuberger Berman Group LLC owned about 1.32% of GoDaddy worth $339,340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of GoDaddy in the fourth quarter worth approximately $44,668,000. Sagespring Wealth Partners LLC bought a new position in shares of GoDaddy in the fourth quarter worth approximately $411,000. Advisors Capital Management LLC boosted its position in shares of GoDaddy by 0.9% in the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after purchasing an additional 55 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in shares of GoDaddy in the fourth quarter worth approximately $539,000. Finally, Jump Financial LLC bought a new position in shares of GoDaddy in the fourth quarter worth approximately $238,000. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Leah Sweet sold 650 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $141.14, for a total value of $91,741.00. Following the sale, the director owned 12,064 shares of the company's stock, valued at approximately $1,702,712.96. This represents a 5.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $169.59, for a total transaction of $169,590.00. Following the completion of the sale, the chief operating officer directly owned 253,949 shares in the company, valued at approximately $43,067,210.91. This represents a 0.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,881 shares of company stock valued at $5,725,860. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GDDY. Citigroup dropped their price target on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Royal Bank Of Canada dropped their price target on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Raymond James Financial dropped their price target on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. upped their target price on shares of GoDaddy from $231.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their target price on shares of GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $202.43.

GoDaddy Price Performance

GDDY stock traded up $2.49 during trading on Friday, hitting $146.12. 2,456,652 shares of the company's stock traded hands, compared to its average volume of 2,312,854. GoDaddy Inc. has a 52 week low of $132.51 and a 52 week high of $216.00. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.56 and a current ratio of 0.64. The business has a fifty day simple moving average of $167.44 and a 200 day simple moving average of $177.57. The stock has a market capitalization of $20.82 billion, a price-to-earnings ratio of 26.09, a P/E/G ratio of 1.55 and a beta of 1.08.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business earned $1.01 earnings per share. GoDaddy's quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts expect that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

GoDaddy 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.