Wellington Management Group LLP Has $567.02 Million Holdings in GoDaddy Inc. $GDDY

Key Points

• Wellington Management Group LLP increased its holdings in GoDaddy Inc. by 13.4%, owning 3,147,646 shares valued at approximately $567 million after purchasing an additional 371,188 shares in the first quarter.
• Over 90% of GoDaddy's shares are owned by institutional investors, with several firms, including HighPoint Advisor Group and Wealth Enhancement Advisory Services, increasing their stakes in the company.
• GoDaddy's latest earnings report showed an EPS of $1.41, surpassing estimates and displaying an 8.3% revenue growth year-over-year, with a current consensus price target of $202.43 from analysts.

Wellington Management Group LLP boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,147,646 shares of the technology company's stock after purchasing an additional 371,188 shares during the quarter. Wellington Management Group LLP owned 2.21% of GoDaddy worth $567,017,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. HighPoint Advisor Group LLC raised its stake in GoDaddy by 15.9% during the 1st quarter. HighPoint Advisor Group LLC now owns 2,134 shares of the technology company's stock valued at $402,000 after purchasing an additional 293 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of GoDaddy in the 1st quarter valued at $291,000. DAVENPORT & Co LLC raised its stake in shares of GoDaddy by 7.7% in the 1st quarter. DAVENPORT & Co LLC now owns 1,967 shares of the technology company's stock valued at $354,000 after buying an additional 141 shares in the last quarter. Optimist Retirement Group LLC raised its stake in shares of GoDaddy by 5.8% in the 1st quarter. Optimist Retirement Group LLC now owns 1,522 shares of the technology company's stock valued at $274,000 after buying an additional 84 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of GoDaddy by 13.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the technology company's stock valued at $1,060,000 after buying an additional 699 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GDDY shares. Royal Bank Of Canada dropped their price objective on shares of GoDaddy from $225.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Piper Sandler set a $182.00 price objective on shares of GoDaddy and gave the company an "overweight" rating in a research note on Friday, August 8th. Raymond James Financial dropped their price objective on shares of GoDaddy from $225.00 to $175.00 and set a "strong-buy" rating for the company in a research note on Friday, August 8th. Citigroup dropped their price objective on shares of GoDaddy from $234.00 to $214.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. increased their price objective 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. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.43.

GoDaddy Stock Performance

NYSE:GDDY opened at $143.87 on Tuesday. GoDaddy Inc. has a 1 year low of $132.51 and a 1 year high of $216.00. The firm has a 50 day moving average of $166.72 and a 200-day moving average of $176.59. 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 stock has a market capitalization of $20.50 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 1.58 and a beta of 1.08.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The company's revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insider Activity

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $169.59, for a total transaction of $169,590.00. Following the sale, the chief operating officer owned 253,949 shares of the company's stock, valued at $43,067,210.91. This represents a 0.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leah Sweet sold 650 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $141.14, for a total transaction of $91,741.00. Following the sale, the director directly owned 12,064 shares in the company, valued at approximately $1,702,712.96. This represents a 5.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,881 shares of company stock worth $5,725,860. 0.70% of the stock is currently owned by insiders.

GoDaddy Company 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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