GoDaddy Inc. (NYSE:GDDY) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in GoDaddy Inc. (NYSE:GDDY) by 1,426.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,717 shares of the technology company’s stock after acquiring an additional 147,382 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.11% of GoDaddy worth $22,035,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GDDY. V Square Quantitative Management LLC acquired a new stake in GoDaddy during the fourth quarter valued at $28,000. Transcendent Capital Group LLC acquired a new stake in GoDaddy during the second quarter valued at $28,000. GAMMA Investing LLC grew its position in GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares during the period. ORG Partners LLC acquired a new stake in GoDaddy during the second quarter valued at $32,000. Finally, Frazier Financial Advisors LLC acquired a new stake in GoDaddy during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE:GDDY opened at $164.10 on Thursday. The company’s 50-day moving average price is $149.38 and its 200-day moving average price is $133.63. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The company has a market cap of $23.42 billion, a P/E ratio of 13.63 and a beta of 1.14. GoDaddy Inc. has a twelve month low of $70.03 and a twelve month high of $165.89.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts forecast that GoDaddy Inc. will post 4.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on GDDY shares. Evercore ISI raised their price target on shares of GoDaddy from $110.00 to $135.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. Barclays increased their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Robert W. Baird increased their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price objective on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and an average price target of $163.58.

Insiders Place Their Bets

In other GoDaddy news, CAO Nick Daddario sold 523 shares of GoDaddy stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the transaction, the chief accounting officer now directly owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other GoDaddy news, CAO Nick Daddario sold 523 shares of GoDaddy stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total transaction of $72,221.07. Following the completion of the sale, the chief accounting officer now directly owns 22,666 shares in the company, valued at $3,129,947.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the sale, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. The disclosure for this sale can be found here. Insiders have sold 46,413 shares of company stock valued at $6,510,706 over the last ninety days. Company insiders own 0.61% of the company’s stock.

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.