Massachusetts Financial Services Co. MA Has $6.24 Million Holdings in GoDaddy Inc. (NYSE:GDDY)

Massachusetts Financial Services Co. MA raised its position in shares of GoDaddy Inc. (NYSE:GDDY) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,785 shares of the technology company’s stock after acquiring an additional 2,124 shares during the period. Massachusetts Financial Services Co. MA’s holdings in GoDaddy were worth $6,237,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of GoDaddy by 3.4% during the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock worth $31,052,000 after acquiring an additional 6,424 shares during the period. Highland Capital Management LLC bought a new stake in shares of GoDaddy during the third quarter worth approximately $1,132,000. Plato Investment Management Ltd boosted its holdings in shares of GoDaddy by 2,471.0% during the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock worth $769,000 after acquiring an additional 6,227 shares during the period. Swedbank AB boosted its holdings in shares of GoDaddy by 3.5% during the second quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after acquiring an additional 5,247 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its holdings in shares of GoDaddy by 28.0% during the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock worth $6,907,000 after acquiring an additional 9,631 shares during the period. Institutional investors own 90.28% of the company’s stock.

Wall Street Analysts Forecast Growth

GDDY has been the subject of a number of research analyst reports. Raymond James boosted their price objective on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th. B. Riley boosted their price target on GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Benchmark boosted their price target on GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price target on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.31.

Insider Transactions at GoDaddy

In related news, Director Brian Sharples sold 500 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $179.00, for a total value of $89,500.00. Following the completion of the sale, the director now directly owns 24,121 shares in the company, valued at $4,317,659. This represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value 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 $59,882,801.43. The trade was a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,345 shares of company stock worth $3,897,255. Corporate insiders own 0.61% of the company’s stock.

GoDaddy Stock Up 1.2 %

NYSE GDDY opened at $199.73 on Wednesday. The business has a fifty day moving average price of $167.56 and a two-hundred day moving average price of $154.07. The company has a debt-to-equity ratio of 10.61, a current ratio of 0.56 and a quick ratio of 0.56. GoDaddy Inc. has a fifty-two week low of $94.50 and a fifty-two week high of $202.56. The stock has a market capitalization of $28.04 billion, a PE ratio of 15.44 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. GoDaddy had a net margin of 41.74% and a return on equity of 267.29%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 earnings per share. Equities analysts expect that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

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.