Prudential PLC Grows Position in GoDaddy Inc. (NYSE:GDDY)

Prudential PLC grew its position in shares of GoDaddy Inc. (NYSE:GDDY) by 348.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,978 shares of the technology company’s stock after buying an additional 6,976 shares during the quarter. Prudential PLC’s holdings in GoDaddy were worth $1,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of GDDY. Whittier Trust Co. grew its position in GoDaddy by 4.3% during the second quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after buying an additional 74 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of GoDaddy by 0.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock worth $1,427,000 after purchasing an additional 113 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of GoDaddy by 3.9% in the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock worth $359,000 after purchasing an additional 113 shares during the period. GAMMA Investing LLC lifted its stake in GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the last quarter. Finally, Signaturefd LLC increased its position in GoDaddy by 6.3% in the second quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock worth $346,000 after buying an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Trading Up 1.2 %

Shares of GoDaddy stock opened at $151.50 on Thursday. The company has a 50 day simple moving average of $152.63 and a two-hundred day simple moving average of $136.73. The firm has a market cap of $21.62 billion, a PE ratio of 12.58 and a beta of 1.13. GoDaddy Inc. has a 1 year low of $71.15 and a 1 year high of $167.65. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48.

GoDaddy (NYSE:GDDY) last announced its earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the firm posted $0.63 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Analysts expect that GoDaddy Inc. will post 5.06 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Nick Daddario sold 684 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $157.23, for a total value of $107,545.32. Following the completion of the sale, the chief accounting officer now owns 17,704 shares in the company, valued at approximately $2,783,599.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Nick Daddario sold 684 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the transaction, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at approximately $2,783,599.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $559,160.00. Following the completion of the sale, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,744 shares of company stock worth $4,664,216. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GDDY has been the topic of a number of recent research reports. Cantor Fitzgerald assumed coverage on GoDaddy in a research report on Thursday, September 5th. They set a “neutral” rating and a $170.00 price target on the stock. Robert W. Baird lifted their price objective on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Royal Bank of Canada boosted their price objective on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Raymond James raised their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Five 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.08.

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.