Oppenheimer & Co. Inc. Has $1.87 Million Stake in GoDaddy Inc. (NYSE:GDDY)

Oppenheimer & Co. Inc. raised its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 127.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,351 shares of the technology company's stock after buying an additional 5,809 shares during the period. Oppenheimer & Co. Inc.'s holdings in GoDaddy were worth $1,865,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GDDY. Norges Bank acquired a new position in GoDaddy in the fourth quarter worth approximately $356,038,000. Assenagon Asset Management S.A. grew its position 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 worth $242,727,000 after acquiring an additional 1,258,324 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock worth $273,582,000 after purchasing an additional 719,000 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of GoDaddy by 18,248.7% during the 1st quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company's stock valued at $92,516,000 after purchasing an additional 510,780 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of 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 purchasing an additional 507,374 shares during the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $989,175.00. Following the completion of the transaction, the chief financial officer now owns 115,375 shares in the company, valued at approximately $20,750,193.75. The trade was a 4.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total value of $89,925.00. Following the completion of the transaction, the director now directly owns 21,621 shares in the company, valued at approximately $3,888,536.85. This represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,632 shares of company stock worth $12,602,635 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Piper Sandler raised their target price on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Jefferies Financial Group lowered their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Benchmark restated a "buy" rating on shares of GoDaddy in a report on Monday, April 28th. Citigroup lowered their price target on GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $225.00 price objective on shares of GoDaddy in a research note on Monday, June 23rd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GoDaddy has an average rating of "Moderate Buy" and a consensus price target of $214.86.

GoDaddy Price Performance

Shares of GoDaddy stock traded up $3.00 during trading on Friday, hitting $180.19. 1,866,062 shares of the company's stock traded hands, compared to its average volume of 1,334,529. The company has a market cap of $25.67 billion, a PE ratio of 34.65 and a beta of 1.07. The firm's fifty day moving average price is $181.41 and its 200 day moving average price is $186.93. GoDaddy Inc. has a twelve month low of $138.48 and a twelve month high of $216.00. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56.

GoDaddy (NYSE:GDDY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The company's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.76 earnings per share. Analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

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.