Shell Asset Management Co. Acquires 6,319 Shares of GoDaddy Inc. $GDDY

Key Points

• Shell Asset Management Co. increased its stake in GoDaddy by 37.6%, acquiring an additional 6,319 shares, bringing its total holdings to 23,135 shares valued at approximately $4.17 million.
• GoDaddy reported second-quarter earnings of $1.41 per share, exceeding estimates and showing an 8.3% revenue increase year-over-year, totaling $1.22 billion.
• Several institutional investors significantly increased their positions in GoDaddy, including Goldman Sachs, which raised its holdings by over 257%, indicating strong investor confidence in the company.

Shell Asset Management Co. boosted its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 37.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,135 shares of the technology company's stock after buying an additional 6,319 shares during the period. Shell Asset Management Co.'s holdings in GoDaddy were worth $4,166,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. grew its position in GoDaddy by 257.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company's stock valued at $402,946,000 after acquiring an additional 1,610,890 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of GoDaddy by 1,412.1% during 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 purchasing an additional 1,258,324 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of GoDaddy by 41.1% during the first quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock valued at $439,525,000 after acquiring an additional 710,842 shares during the period. Pacer Advisors Inc. lifted its stake in shares of GoDaddy by 893.4% during the first quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company's stock valued at $116,685,000 after acquiring an additional 582,539 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of GoDaddy by 719.5% during the first quarter. National Bank of Canada FI now owns 538,514 shares of the technology company's stock valued at $97,008,000 after acquiring an additional 472,805 shares during the period. 90.28% of the stock is currently owned by institutional investors.

GoDaddy Stock Down 1.3%

Shares of GoDaddy stock opened at $135.35 on Wednesday. GoDaddy Inc. has a 1 year low of $131.29 and a 1 year high of $216.00. The business has a 50-day moving average of $145.22 and a two-hundred day moving average of $166.21. The company has a market capitalization of $18.74 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.49 and a beta of 0.98. 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 (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.07. GoDaddy had a return on equity of 189.42% and a net margin of 17.01%.The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts predict that GoDaddy Inc. will post 6.63 EPS for the current year.

Analyst Upgrades and Downgrades

GDDY has been the topic of several research reports. Raymond James Financial cut their price target on GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 8th. Piper Sandler set a $182.00 price target on GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Citigroup cut their price target on GoDaddy from $234.00 to $214.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company dropped their price objective on GoDaddy from $157.00 to $145.00 and set an "equal weight" rating for the company in a report on Monday. Finally, Barclays dropped their price objective on GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.00.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 6,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $150.00, for a total transaction of $900,000.00. Following the completion of the transaction, the chief executive officer directly owned 406,065 shares in the company, valued at approximately $60,909,750. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian Sharples sold 500 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $136.57, for a total value of $68,285.00. Following the transaction, the director owned 20,457 shares of the company's stock, valued at approximately $2,793,812.49. The trade was a 2.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,203 shares of company stock valued at $4,200,828. 0.70% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.