Price T Rowe Associates Inc. MD Has $466.10 Million Stock Position in GoDaddy Inc. $GDDY

Key Points

• Price T Rowe Associates Inc. significantly reduced its stake in GoDaddy Inc. by 32.1%, selling over 1.2 million shares, and now owns approximately 1.82% of the company.
• In insider trading, CEO Amanpal Singh Bhutani and CFO Mark McCaffrey both sold shares of GoDaddy, indicating a decrease in their respective positions by 1.58% and 4.29%.
• Several major firms have adjusted their price targets for GoDaddy, with Wells Fargo lowering its target from $198 to $157, while JPMorgan raised it from $231 to $240, indicating varying outlooks from analysts.

Price T Rowe Associates Inc. MD cut its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 32.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,587,416 shares of the technology company's stock after selling 1,221,559 shares during the period. Price T Rowe Associates Inc. MD owned about 1.82% of GoDaddy worth $466,098,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GDDY. Jump Financial LLC acquired a new stake in GoDaddy in the fourth quarter valued at approximately $238,000. NewEdge Advisors LLC lifted its stake in GoDaddy by 5.6% in the fourth quarter. NewEdge Advisors LLC now owns 4,179 shares of the technology company's stock valued at $825,000 after acquiring an additional 223 shares during the last quarter. Marshall Wace LLP acquired a new stake in GoDaddy in the fourth quarter valued at approximately $1,145,000. TD Waterhouse Canada Inc. lifted its stake in GoDaddy by 514.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,825 shares of the technology company's stock valued at $557,000 after acquiring an additional 2,365 shares during the last quarter. Finally, MGO One Seven LLC acquired a new stake in GoDaddy in the fourth quarter valued at approximately $390,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GDDY has been the subject of a number of analyst reports. Wells Fargo & Company reduced 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 note on Friday, August 8th. Piper Sandler set a $182.00 target price on shares of GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. 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 research note on Tuesday, May 6th. Citigroup reduced their price objective 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. Finally, Royal Bank Of Canada lowered their price target 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. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $202.43.

GoDaddy Trading Up 1.1%

Shares of NYSE GDDY traded up $1.66 during mid-day trading on Wednesday, hitting $147.91. The company's stock had a trading volume of 1,344,194 shares, compared to its average volume of 1,586,526. The stock has a market cap of $20.48 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 1.58 and a beta of 1.08. The company has a debt-to-equity ratio of 9.33, a current ratio of 0.64 and a quick ratio of 0.64. GoDaddy Inc. has a one year low of $132.51 and a one year high of $216.00. The company's fifty day simple moving average is $162.95 and its 200-day simple moving average is $174.12.

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 analyst estimates of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The company's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 6,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $159.46, for a total value of $956,760.00. Following the sale, the chief executive officer directly owned 419,015 shares in the company, valued at $66,816,131.90. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $160.47, for a total transaction of $80,235.00. Following the completion of the sale, the director owned 21,457 shares in the company, valued at $3,443,204.79. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,881 shares of company stock worth $5,869,390 over the last ninety days. Company insiders own 0.70% of the company's stock.

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.