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

Allspring Global Investments Holdings LLC raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 47.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 233,099 shares of the technology company’s stock after acquiring an additional 75,382 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in GoDaddy were worth $36,545,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in GoDaddy by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock valued at $2,837,000 after acquiring an additional 67 shares in the last quarter. Whittier Trust Co. boosted its position in shares of GoDaddy by 4.3% in the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after purchasing an additional 74 shares during the period. Sivia Capital Partners LLC grew its stake in GoDaddy by 3.9% during the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock worth $359,000 after buying an additional 113 shares during the last quarter. Atomi Financial Group Inc. increased its position in GoDaddy by 7.6% during the third quarter. Atomi Financial Group Inc. now owns 1,861 shares of the technology company’s stock worth $292,000 after buying an additional 131 shares during the period. Finally, 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 buying an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $163.59 on Wednesday. GoDaddy Inc. has a 52 week low of $71.15 and a 52 week high of $167.65. The stock has a market cap of $23.34 billion, a price-to-earnings ratio of 13.59 and a beta of 1.12. 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 company’s 50-day moving average price is $159.32 and its 200 day moving average price is $145.32.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data 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). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, research analysts forecast that GoDaddy Inc. will post 5.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GDDY. Royal Bank of Canada lifted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a report on Monday, October 7th. Barclays raised their price target on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Piper Sandler restated a “neutral” rating and issued a $172.00 price target (up previously from $160.00) on shares of GoDaddy in a research report on Monday, September 23rd. Finally, StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus price target of $166.54.

Insider Activity

In related news, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the sale, the director now owns 4,661 shares in the company, valued at approximately $734,620.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.48, for a total transaction of $439,440.00. Following the sale, the chief executive officer now owns 362,398 shares in the company, valued at $53,084,059.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sigal Zarmi sold 400 shares of GoDaddy stock in a transaction on Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the completion of the sale, the director now directly owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,744 shares of company stock worth $5,114,931 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

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.