The Manufacturers Life Insurance Company Grows Holdings in GoDaddy Inc. $GDDY

Key Points

• The Manufacturers Life Insurance Company increased its stake in GoDaddy Inc. by 7.0%, purchasing an additional 21,136 shares during the first quarter, bringing its total ownership to 325,221 shares valued at approximately $58.6 million.
• GoDaddy's stock outperformed earnings expectations, reporting $1.41 earnings per share compared to the consensus estimate of $1.34, alongside a revenue of $1.22 billion, which reflects an 8.3% year-on-year increase.
• Analysts have mixed sentiments on GoDaddy, with price targets ranging from $175.00 to $240.00, and a consensus rating of "Moderate Buy" based on several upgrades and downgrades.

The Manufacturers Life Insurance Company lifted its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 325,221 shares of the technology company's stock after buying an additional 21,136 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.23% of GoDaddy worth $58,585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in GoDaddy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 18,134,214 shares of the technology company's stock valued at $3,266,697,000 after buying an additional 462,807 shares during the last quarter. WCM Investment Management LLC increased its stake in GoDaddy by 2.0% in the 1st quarter. WCM Investment Management LLC now owns 3,471,218 shares of the technology company's stock worth $620,931,000 after purchasing an additional 67,152 shares during the period. Invesco Ltd. increased its stake in shares of GoDaddy by 13.8% during the first quarter. Invesco Ltd. now owns 3,315,848 shares of the technology company's stock valued at $597,317,000 after buying an additional 401,918 shares during the period. Wellington Management Group LLP boosted its position in shares of GoDaddy by 13.4% during the first quarter. Wellington Management Group LLP now owns 3,147,646 shares of the technology company's stock valued at $567,017,000 after purchasing an additional 371,188 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in GoDaddy by 41.1% in the first quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company's stock worth $439,525,000 after acquiring an additional 710,842 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company's stock.

GoDaddy Stock Performance

GoDaddy stock traded down $0.91 during mid-day trading on Wednesday, reaching $143.48. The company's stock had a trading volume of 2,053,756 shares, compared to its average volume of 1,593,306. GoDaddy Inc. has a twelve month low of $132.51 and a twelve month high of $216.00. The firm has a market cap of $19.86 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.60 and a beta of 1.02. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 9.33. The business has a 50 day moving average price of $159.34 and a 200-day moving average price of $171.96.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.34 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.21 billion. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. GoDaddy's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark Mccaffrey sold 625 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $177.08, for a total transaction of $110,675.00. Following the transaction, the chief financial officer directly owned 73,459 shares in the company, valued at $13,008,119.72. The trade was a 0.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leah Sweet sold 650 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $141.14, for a total transaction of $91,741.00. Following the completion of the sale, the director directly owned 12,064 shares of the company's stock, valued at $1,702,712.96. This represents a 5.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,448 shares of company stock valued at $3,266,423. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of analyst reports. Barclays reduced their price target on GoDaddy from $235.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Wall Street Zen downgraded GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Wells Fargo & Company lowered their price target on GoDaddy from $198.00 to $157.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. lifted their price target on GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Piper Sandler set a $182.00 price objective on GoDaddy and gave the stock an "overweight" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, GoDaddy presently has a consensus rating of "Moderate Buy" and an average price target of $202.43.

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.