Victory Capital Management Inc. Has $38.12 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Victory Capital Management Inc. raised its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,604 shares of the technology company's stock after purchasing an additional 12,338 shares during the period. Victory Capital Management Inc. owned approximately 0.15% of GoDaddy worth $38,118,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in shares of GoDaddy by 123.4% in the first quarter. Cornerstone Planning Group LLC now owns 143 shares of the technology company's stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of GoDaddy in the 1st quarter worth about $27,000. Private Trust Co. NA increased its stake in GoDaddy by 591.3% in the 1st quarter. Private Trust Co. NA now owns 159 shares of the technology company's stock valued at $29,000 after buying an additional 136 shares during the last quarter. City Holding Co. increased its stake in GoDaddy by 30.0% in the 1st quarter. City Holding Co. now owns 260 shares of the technology company's stock valued at $47,000 after buying an additional 60 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of GoDaddy during the 1st quarter valued at approximately $53,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Up 0.3%

Shares of GDDY opened at $168.80 on Friday. GoDaddy Inc. has a twelve month low of $140.11 and a twelve month high of $216.00. The company has a market cap of $24.05 billion, a P/E ratio of 32.46 and a beta of 1.05. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 18.91. The company's fifty day simple moving average is $178.96 and its 200-day simple moving average is $183.72.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.35 by ($0.08). GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period last year, the business posted $2.76 EPS. The company's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on GDDY. Royal Bank Of Canada reissued an "outperform" rating and issued a $225.00 price target on shares of GoDaddy in a report on Monday, June 23rd. JPMorgan Chase & Co. lifted their target price on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Piper Sandler upped their target price 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 cut shares of GoDaddy from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Citigroup reduced their target price on shares of GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $214.86.

Insider Buying and Selling

In related news, CFO Mark Mccaffrey sold 625 shares of GoDaddy stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $177.08, for a total value of $110,675.00. Following the completion of the sale, the chief financial officer directly owned 73,459 shares in the company, valued at $13,008,119.72. This trade represents 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 Brian Sharples sold 500 shares of GoDaddy stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $179.68, for a total transaction of $89,840.00. Following the sale, the director owned 21,957 shares of the company's stock, valued at approximately $3,945,233.76. The trade was a 2.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,757 shares of company stock worth $12,243,920 over the last ninety days. Company insiders own 0.61% of the company's stock.

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.

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