DekaBank Deutsche Girozentrale Has $6.12 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

DekaBank Deutsche Girozentrale trimmed its position in GoDaddy Inc. (NYSE:GDDYFree Report) by 15.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 39,722 shares of the technology company’s stock after selling 7,300 shares during the period. DekaBank Deutsche Girozentrale’s holdings in GoDaddy were worth $6,116,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after acquiring an additional 1,775,708 shares during the period. Kodai Capital Management LP acquired a new stake in GoDaddy in the first quarter valued at $75,855,000. Federated Hermes Inc. raised its position in GoDaddy by 35.6% during the 2nd quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in GoDaddy by 2,279.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 401,249 shares of the technology company’s stock worth $62,908,000 after buying an additional 384,386 shares during the period. Finally, 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. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. B. Riley lifted their price objective on GoDaddy from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $170.00 price objective on shares of GoDaddy in a research note on Monday, October 7th. Piper Sandler lifted their target price on shares of GoDaddy from $172.00 to $176.00 and gave the stock a “neutral” rating in a research note on Thursday. Benchmark upped their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays lifted their price objective on GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $170.23.

Check Out Our Latest Stock Report on GDDY

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $166.68 on Friday. GoDaddy Inc. has a twelve month low of $72.14 and a twelve month high of $171.93. The stock’s 50 day moving average is $159.08 and its 200-day moving average is $146.68. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The firm has a market capitalization of $23.78 billion, a price-to-earnings ratio of 13.84 and a beta of 1.12.

GoDaddy (NYSE:GDDYGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 earnings per share. Sell-side analysts forecast that GoDaddy Inc. will post 5.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares in the company, valued at $734,620.21. 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 hyperlink. In related news, Director Sigal Zarmi sold 400 shares of the firm’s 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 transaction, the director now directly owns 4,661 shares of the company’s stock, valued at $734,620.21. 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 at this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the completion of the sale, the chief executive officer now owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,744 shares of company stock valued at $4,089,571. Corporate insiders own 0.61% of the company’s stock.

About GoDaddy

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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