Axa S.A. Reduces Stock Position in GoDaddy Inc. (NYSE:GDDY)

Axa S.A. cut its holdings in GoDaddy Inc. (NYSE:GDDY) by 53.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,637 shares of the technology company’s stock after selling 1,848 shares during the period. Axa S.A.’s holdings in GoDaddy were worth $229,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in shares of GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock worth $433,895,000 after acquiring an additional 1,775,708 shares in the last quarter. Kodai Capital Management LP purchased a new stake in shares of GoDaddy during the 1st quarter worth approximately $75,855,000. Federated Hermes Inc. boosted its holdings in shares of GoDaddy by 35.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after buying an additional 394,399 shares in the last quarter. Vanguard Group Inc. grew its position in shares of GoDaddy by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after buying an additional 379,228 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in GoDaddy by 676.1% during the 1st quarter. Acadian Asset Management LLC now owns 347,074 shares of the technology company’s stock worth $41,181,000 after acquiring an additional 302,352 shares in the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of GDDY opened at $154.94 on Thursday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. The stock’s 50 day moving average is $155.82 and its two-hundred day moving average is $141.12. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The firm has a market capitalization of $22.11 billion, a PE ratio of 12.82 and a beta of 1.13.

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 analysts’ consensus estimates of $1.07 by ($0.06). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. Research analysts anticipate that GoDaddy Inc. will post 5.06 earnings per share for the current year.

Insider Transactions at GoDaddy

In related news, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total transaction of $152,170.00. Following the sale, the chief operating officer now owns 187,632 shares of the company’s stock, valued at $28,551,961.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the sale, the chief financial officer now owns 101,286 shares of the company’s stock, valued at $16,686,868.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the transaction, the chief operating officer now directly owns 187,632 shares of the company’s stock, valued at approximately $28,551,961.44. The disclosure for this sale can be found here. Insiders have sold a total of 23,244 shares of company stock valued at $3,628,171 in the last ninety days. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GDDY has been the subject of several research analyst reports. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Benchmark raised their price target on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Piper Sandler reiterated a “neutral” rating and issued a $172.00 price objective (up previously from $160.00) on shares of GoDaddy in a research note on Monday, September 23rd. Royal Bank of Canada raised their target price on shares of GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Finally, B. Riley upped their price target on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.54.

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.