The Manufacturers Life Insurance Company Purchases 213,275 Shares of GoDaddy Inc. (NYSE:GDDY)

The Manufacturers Life Insurance Company increased its holdings in GoDaddy Inc. (NYSE:GDDY - Free Report) by 234.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 304,085 shares of the technology company's stock after buying an additional 213,275 shares during the period. The Manufacturers Life Insurance Company owned 0.22% of GoDaddy worth $60,017,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GDDY. Oxford Asset Management LLP purchased a new stake in shares of GoDaddy in the 4th quarter valued at about $251,000. Susquehanna Fundamental Investments LLC bought a new stake in GoDaddy during the fourth quarter valued at approximately $2,092,000. Voya Investment Management LLC grew its stake in GoDaddy by 333.8% in the 4th quarter. Voya Investment Management LLC now owns 396,934 shares of the technology company's stock worth $78,343,000 after buying an additional 305,425 shares in the last quarter. MGO One Seven LLC bought a new position in shares of GoDaddy in the 4th quarter worth $390,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of GoDaddy by 11.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,808,975 shares of the technology company's stock valued at $751,778,000 after buying an additional 395,160 shares in the last quarter. Institutional investors own 90.28% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler increased their target price on GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday. Jefferies Financial Group reduced their price objective on GoDaddy from $200.00 to $185.00 and set a "hold" rating on the stock in a research report on Monday, April 7th. Citigroup dropped their target price on GoDaddy from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Friday, April 25th. StockNews.com lowered GoDaddy from a "buy" rating to a "hold" rating in a research note on Monday, February 17th. Finally, Wells Fargo & Company initiated coverage on shares of GoDaddy in a research note on Monday, February 3rd. They set an "equal weight" rating and a $198.00 price target on the stock. Eight 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $208.93.

GoDaddy Stock Down 8.4 %

Shares of GDDY stock traded down $16.09 during trading hours on Friday, hitting $176.27. 3,239,351 shares of the company's stock traded hands, compared to its average volume of 1,479,044. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 5.46. The stock's fifty day simple moving average is $176.43 and its two-hundred day simple moving average is $187.19. GoDaddy Inc. has a 12-month low of $122.04 and a 12-month high of $216.00. The stock has a market cap of $24.92 billion, a price-to-earnings ratio of 27.33 and a beta of 1.13.

GoDaddy (NYSE:GDDY - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). GoDaddy had a return on equity of 176.06% and a net margin of 20.49%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $2.76 earnings per share. The company's revenue was up 8.6% compared to the same quarter last year. On average, analysts expect that GoDaddy Inc. will post 6.63 EPS for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, Director Brian Sharples sold 500 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $207.70, for a total value of $103,850.00. Following the completion of the transaction, the director now owns 22,621 shares of the company's stock, valued at approximately $4,698,381.70. The trade was a 2.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total transaction of $989,175.00. Following the sale, the chief financial officer now directly owns 115,375 shares in the company, valued at approximately $20,750,193.75. The trade was a 4.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,000 shares of company stock worth $3,518,150. 0.61% of the stock is owned by corporate insiders.

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.