GoDaddy Inc. (NYSE:GDDY) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 4.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 94,912 shares of the technology company's stock after purchasing an additional 4,277 shares during the period. QRG Capital Management Inc. owned approximately 0.07% of GoDaddy worth $17,097,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Rakuten Securities Inc. increased its stake in GoDaddy by 311.3% in the 4th quarter. Rakuten Securities Inc. now owns 218 shares of the technology company's stock valued at $43,000 after purchasing an additional 165 shares in the last quarter. City Holding Co. increased its position in shares of GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after buying an additional 60 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of GoDaddy in the fourth quarter valued at $52,000. Summit Securities Group LLC acquired a new position in shares of GoDaddy during the 4th quarter worth $58,000. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of GoDaddy during the 4th quarter worth $67,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GDDY shares. Jefferies Financial Group lowered their price objective on shares of GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. increased their price target on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Piper Sandler raised their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Wall Street Zen lowered GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada lowered their target price on GoDaddy from $230.00 to $225.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have issued 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 $214.86.

GoDaddy Trading Down 0.3%

GoDaddy stock traded down $0.55 during midday trading on Wednesday, reaching $177.50. The stock had a trading volume of 120,365 shares, compared to its average volume of 1,472,103. The stock's 50-day simple moving average is $180.62 and its 200 day simple moving average is $188.44. GoDaddy Inc. has a twelve month low of $135.73 and a twelve month high of $216.00. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $25.29 billion, a PE ratio of 34.18 and a beta of 1.07.

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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.76 earnings per share. Analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $89,925.00. Following the completion of the sale, the director now owns 21,621 shares of the company's stock, valued at $3,888,536.85. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $539,550.00. Following the sale, the chief executive officer now owns 443,947 shares in the company, valued at $79,843,867.95. This represents a 0.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,632 shares of company stock valued at $12,426,675 over the last ninety days. Corporate insiders own 0.61% of the company's stock.

GoDaddy Company 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.