Rhumbline Advisers Buys 17,011 Shares of GoDaddy Inc. (NYSE:GDDY)

Rhumbline Advisers raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 306,569 shares of the technology company's stock after purchasing an additional 17,011 shares during the period. Rhumbline Advisers owned 0.22% of GoDaddy worth $55,225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Blue Trust Inc. raised its position in shares of GoDaddy by 40.5% in the 4th quarter. Blue Trust Inc. now owns 1,072 shares of the technology company's stock valued at $212,000 after acquiring an additional 309 shares during the period. Union Bancaire Privee UBP SA acquired a new position in GoDaddy during the fourth quarter valued at approximately $7,916,000. Tokio Marine Asset Management Co. Ltd. increased its stake in GoDaddy by 3.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,434 shares of the technology company's stock valued at $1,073,000 after purchasing an additional 200 shares in the last quarter. Spire Wealth Management raised its holdings in GoDaddy by 1,724.0% in the fourth quarter. Spire Wealth Management now owns 1,751 shares of the technology company's stock worth $346,000 after purchasing an additional 1,655 shares during the period. Finally, Greenleaf Trust raised its holdings in GoDaddy by 3.5% in the fourth quarter. Greenleaf Trust now owns 3,708 shares of the technology company's stock worth $732,000 after purchasing an additional 126 shares during the period. Institutional investors own 90.28% of the company's stock.

Insider Buying and Selling at GoDaddy

In other news, Director Brian Sharples sold 500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $89,925.00. Following the transaction, the director now owns 21,621 shares in the company, valued at approximately $3,888,536.85. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $174.21, for a total value of $174,210.00. Following the transaction, the chief operating officer now owns 257,949 shares in the company, valued at $44,937,295.29. The trade was a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,026 shares of company stock worth $9,611,406 over the last ninety days. Insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

NYSE GDDY traded up $0.46 during trading on Wednesday, reaching $182.19. 1,353,553 shares of the company's stock were exchanged, compared to its average volume of 1,476,275. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. The business has a 50 day moving average price of $179.28 and a 200-day moving average price of $189.50. The stock has a market capitalization of $25.96 billion, a P/E ratio of 28.25 and a beta of 1.13. GoDaddy Inc. has a fifty-two week low of $135.73 and a fifty-two week high of $216.00.

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 the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm posted $2.76 earnings per share. The business's revenue was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on GDDY shares. Royal Bank of Canada lowered their price objective on shares of GoDaddy from $230.00 to $225.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Jefferies Financial Group cut their price target on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 7th. Morgan Stanley decreased their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler boosted their target price on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Seven investment 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.