Price T Rowe Associates Inc. MD Acquires 395,160 Shares of GoDaddy Inc. (NYSE:GDDY)

Price T Rowe Associates Inc. MD raised its position in GoDaddy Inc. (NYSE:GDDY - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,808,975 shares of the technology company's stock after buying an additional 395,160 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.71% of GoDaddy worth $751,778,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. WCM Investment Management LLC raised its stake in shares of GoDaddy by 7,083.4% during the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company's stock valued at $678,941,000 after purchasing an additional 3,356,678 shares during the period. Norges Bank bought a new stake in shares of GoDaddy during the 4th quarter valued at $356,038,000. Canada Pension Plan Investment Board raised its stake in shares of GoDaddy by 107.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company's stock valued at $273,582,000 after purchasing an additional 719,000 shares during the period. Congress Asset Management Co. bought a new stake in shares of GoDaddy during the 4th quarter valued at $111,923,000. Finally, Amundi raised its stake in shares of GoDaddy by 84.4% during the 4th quarter. Amundi now owns 931,874 shares of the technology company's stock valued at $183,710,000 after purchasing an additional 426,501 shares during the period. 90.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $207.70, for a total transaction of $623,100.00. Following the sale, the chief executive officer now directly owns 330,153 shares in the company, valued at $68,572,778.10. The trade was a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 1,000 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the completion of the transaction, the chief operating officer now owns 256,949 shares of the company's stock, valued at approximately $44,130,990.75. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,518,150 in the last 90 days. Insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GDDY shares. Morgan Stanley decreased their price objective on GoDaddy from $228.00 to $206.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler boosted their target price on GoDaddy from $176.00 to $177.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. B. Riley boosted their target price on GoDaddy from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. StockNews.com cut GoDaddy from a "buy" rating to a "hold" rating in a research report on Monday, February 17th. Finally, Barclays boosted their target price on GoDaddy from $235.00 to $243.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy presently has an average rating of "Moderate Buy" and an average price target of $209.60.

GoDaddy Trading Up 0.8 %

GDDY stock traded up $1.49 during trading on Tuesday, hitting $186.56. 387,223 shares of the company traded hands, compared to its average volume of 1,468,595. The firm has a market capitalization of $26.37 billion, a PE ratio of 28.93 and a beta of 1.19. GoDaddy Inc. has a 1 year low of $120.59 and a 1 year high of $216.00. The company has a 50-day moving average of $175.53 and a 200-day moving average of $186.88. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72.

GoDaddy (NYSE:GDDY - Get Free Report) last issued its earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.