UMB Bank n.a. Boosts Stock Position in GoDaddy Inc. (NYSE:GDDY)

UMB Bank n.a. grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 36.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 644 shares of the technology company’s stock after buying an additional 172 shares during the quarter. UMB Bank n.a.’s holdings in GoDaddy were worth $90,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GDDY. International Assets Investment Management LLC purchased a new stake in shares of GoDaddy in the fourth quarter valued at approximately $1,972,000. Victory Capital Management Inc. increased its position in shares of GoDaddy by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 77,216 shares of the technology company’s stock valued at $8,197,000 after buying an additional 699 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of GoDaddy by 7.3% during the fourth quarter. Natixis Advisors L.P. now owns 35,166 shares of the technology company’s stock worth $3,733,000 after purchasing an additional 2,398 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of GoDaddy during the fourth quarter worth approximately $127,000. Finally, Machina Capital S.A.S. purchased a new stake in shares of GoDaddy during the fourth quarter worth approximately $535,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Performance

Shares of GoDaddy stock opened at $167.41 on Friday. GoDaddy Inc. has a 52 week low of $71.15 and a 52 week high of $167.65. The business’s fifty day simple moving average is $150.52 and its 200-day simple moving average is $134.23. The firm has a market cap of $23.89 billion, a PE ratio of 13.90 and a beta of 1.14. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on GDDY. Evercore ISI boosted their price target on GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Royal Bank of Canada boosted their price target on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. William Blair reiterated an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. Finally, Morgan Stanley upped 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. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $163.58.

Insider Activity

In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $138.84, for a total transaction of $555,360.00. Following the transaction, the chief operating officer now owns 196,632 shares of the company’s stock, valued at approximately $27,300,386.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Mark Mccaffrey sold 2,687 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $371,047.83. Following the transaction, the chief financial officer now owns 106,786 shares of the company’s stock, valued at approximately $14,746,078.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Roger Chen sold 4,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $138.84, for a total value of $555,360.00. Following the transaction, the chief operating officer now directly owns 196,632 shares in the company, valued at approximately $27,300,386.88. The disclosure for this sale can be found here. Insiders have sold a total of 51,913 shares of company stock valued at $7,416,831 in the last quarter. Insiders own 0.61% of the company’s stock.

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.