Assenagon Asset Management S.A. Boosts Holdings in GoDaddy Inc. (NYSE:GDDY)

Assenagon Asset Management S.A. lifted its position in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 47.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,108 shares of the technology company's stock after purchasing an additional 11,640 shares during the quarter. Assenagon Asset Management S.A.'s holdings in GoDaddy were worth $3,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in shares of GoDaddy by 140.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 351 shares of the technology company's stock worth $37,000 after purchasing an additional 205 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in GoDaddy in the first quarter valued at approximately $31,000. Quent Capital LLC raised its stake in shares of GoDaddy by 2,113.6% during the third quarter. Quent Capital LLC now owns 487 shares of the technology company's stock valued at $36,000 after acquiring an additional 465 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of GoDaddy during the third quarter valued at $43,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in shares of GoDaddy during the third quarter valued at $44,000. 90.28% of the stock is owned by institutional investors.

GoDaddy Stock Performance

GDDY stock traded up $1.10 during mid-day trading on Tuesday, hitting $122.21. The company had a trading volume of 1,418,173 shares, compared to its average volume of 1,531,385. The firm has a market cap of $17.41 billion, a PE ratio of 12.76 and a beta of 1.12. The company has a debt-to-equity ratio of 61.07, a quick ratio of 0.47 and a current ratio of 0.47. GoDaddy Inc. has a 12 month low of $67.43 and a 12 month high of $122.83. The stock's fifty day moving average price is $113.78 and its two-hundred day moving average price is $98.88.

GoDaddy (NYSE:GDDY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.05. GoDaddy had a net margin of 32.74% and a negative return on equity of 89.25%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. On average, analysts forecast that GoDaddy Inc. will post 4.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 2,500 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $120.00, for a total value of $300,000.00. Following the sale, the chief executive officer now owns 384,323 shares in the company, valued at $46,118,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Mark Mccaffrey sold 505 shares of the business's stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $102.47, for a total transaction of $51,747.35. Following the completion of the transaction, the chief financial officer now directly owns 77,158 shares in the company, valued at $7,906,380.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 2,500 shares of the business's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $120.00, for a total value of $300,000.00. Following the transaction, the chief executive officer now owns 384,323 shares of the company's stock, valued at $46,118,760. The disclosure for this sale can be found here. Insiders have sold 117,115 shares of company stock worth $13,037,055 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GDDY shares. Barclays lifted their price target on shares of GoDaddy from $125.00 to $130.00 and gave the company an "overweight" rating in a research note on Tuesday, February 20th. B. Riley lifted their price target on shares of GoDaddy from $124.00 to $142.00 and gave the company a "buy" rating in a research note on Thursday, March 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $124.00 price target on shares of GoDaddy in a research note on Thursday, March 7th. Morgan Stanley lifted their price target on shares of GoDaddy from $120.00 to $132.00 and gave the company an "equal weight" rating in a research note on Thursday, March 14th. Finally, Raymond James assumed coverage on shares of GoDaddy in a research note on Wednesday, March 27th. They issued a "strong-buy" rating and a $150.00 price target for the company. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.18.

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.