GoDaddy Inc. (NYSE:GDDY) Position Increased by Rhumbline Advisers

Rhumbline Advisers grew its stake in 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 SEC. The institutional investor owned 306,569 shares of the technology company's stock after purchasing an additional 17,011 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of GoDaddy worth $55,225,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in shares of GoDaddy in the 4th quarter valued at about $25,554,000. Jones Financial Companies Lllp raised its stake in GoDaddy by 68.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,229 shares of the technology company's stock worth $243,000 after acquiring an additional 499 shares during the period. Steward Partners Investment Advisory LLC raised its stake in GoDaddy by 16.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 678 shares of the technology company's stock worth $134,000 after acquiring an additional 98 shares during the period. LPL Financial LLC raised its stake in GoDaddy by 22.9% during the fourth quarter. LPL Financial LLC now owns 66,109 shares of the technology company's stock worth $13,048,000 after acquiring an additional 12,328 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new stake in GoDaddy during the fourth quarter worth about $220,000. Institutional investors and hedge funds own 90.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. B. Riley increased their price objective on shares of GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Benchmark reiterated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Barclays dropped their price objective on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Jefferies Financial Group dropped 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. Finally, Citigroup dropped their price objective on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Seven equities research 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $214.86.

Insider Activity

In other 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 transaction, the director now directly owns 21,621 shares in the company, valued at $3,888,536.85. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 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 transaction of $539,550.00. Following the completion of the transaction, the chief executive officer now owns 443,947 shares of the company's stock, valued at $79,843,867.95. This trade represents a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,459 shares of company stock worth $12,214,374 over the last three months. Corporate insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

NYSE GDDY traded up $2.54 on Friday, hitting $182.93. The stock had a trading volume of 1,316,634 shares, compared to its average volume of 1,481,182. GoDaddy Inc. has a one year low of $135.73 and a one year high of $216.00. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The stock has a market cap of $26.07 billion, a price-to-earnings ratio of 28.36 and a beta of 1.13. The company's 50-day moving average is $179.39 and its two-hundred day moving average is $189.38.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) 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 20.49% and a return on equity of 176.06%. The company's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $2.76 earnings per share. On average, analysts expect 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.