GoDaddy Inc. (NYSE:GDDY) Shares Acquired by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lifted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,030 shares of the technology company’s stock after purchasing an additional 113 shares during the quarter. Gulf International Bank UK Ltd’s holdings in GoDaddy were worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GDDY. Ameriprise Financial Inc. increased its position in GoDaddy by 9.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after acquiring an additional 561,614 shares during the period. Norges Bank acquired a new position in shares of GoDaddy during the 4th quarter valued at $181,687,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of GoDaddy by 71.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after acquiring an additional 695,897 shares in the last quarter. Northern Trust Corp raised its holdings in shares of GoDaddy by 36.8% during the third quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock worth $103,946,000 after acquiring an additional 375,568 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of GoDaddy by 3,402.0% during the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after acquiring an additional 928,273 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Price Performance

Shares of GoDaddy stock opened at $137.66 on Friday. The firm has a market cap of $19.64 billion, a P/E ratio of 11.43 and a beta of 1.10. The company has a debt-to-equity ratio of 9.15, a quick ratio of 0.55 and a current ratio of 0.55. GoDaddy Inc. has a twelve month low of $69.18 and a twelve month high of $142.95. The firm’s 50-day simple moving average is $132.90 and its 200-day simple moving average is $119.02.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a net margin of 40.38% and a negative return on equity of 186.09%. As a group, research analysts expect that GoDaddy Inc. will post 4.82 EPS for the current fiscal year.

Insider Activity

In other news, Director Leah Sweet sold 1,000 shares of GoDaddy stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $141.59, for a total value of $141,590.00. Following the completion of the transaction, the director now owns 11,317 shares in the company, valued at $1,602,374.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GoDaddy news, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction on Monday, April 1st. The shares were sold at an average price of $118.56, for a total transaction of $474,240.00. Following the completion of the sale, the chief operating officer now owns 204,632 shares of the company’s stock, valued at approximately $24,261,169.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leah Sweet sold 1,000 shares of GoDaddy stock in a transaction on Monday, June 10th. The stock was sold at an average price of $141.59, for a total transaction of $141,590.00. Following the sale, the director now directly owns 11,317 shares of the company’s stock, valued at approximately $1,602,374.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,195 shares of company stock worth $6,237,029. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GDDY shares. Barclays increased their price objective on GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Morgan Stanley raised their target price on GoDaddy from $132.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Royal Bank of Canada raised their target price on GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Benchmark restated a “buy” rating and set a $150.00 target price on shares of GoDaddy in a report on Wednesday, May 1st. Finally, Robert W. Baird raised their target price on GoDaddy from $150.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $149.92.

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.