Fmr LLC Acquires 274,014 Shares of GoDaddy Inc. (NYSE:GDDY)

Fmr LLC grew its holdings in GoDaddy Inc. (NYSE:GDDY) by 19.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,660,283 shares of the technology company’s stock after purchasing an additional 274,014 shares during the period. Fmr LLC owned about 1.18% of GoDaddy worth $260,299,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GDDY. Principal Financial Group Inc. grew its stake in GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after purchasing an additional 6,424 shares in the last quarter. Highland Capital Management LLC bought a new position in shares of GoDaddy in the third quarter valued at $1,132,000. Swedbank AB raised its position in 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 in the last quarter. Crossmark Global Holdings Inc. lifted its stake in GoDaddy by 28.0% in the third quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after acquiring an additional 9,631 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd lifted its stake in GoDaddy by 39.6% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 60,022 shares of the technology company’s stock valued at $9,410,000 after acquiring an additional 17,021 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analyst Ratings Changes

GDDY has been the topic of a number of research analyst reports. Barclays upped their target price on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Piper Sandler raised their price objective on GoDaddy from $172.00 to $176.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Robert W. Baird lifted their target price on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Royal Bank of Canada increased 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. Finally, Benchmark lifted their price objective on shares of GoDaddy from $186.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Stock Performance

NYSE GDDY opened at $197.57 on Monday. The firm has a 50-day moving average price of $170.85 and a two-hundred day moving average price of $155.88. GoDaddy Inc. has a 12-month low of $98.13 and a 12-month high of $202.56. The company has a market capitalization of $27.74 billion, a P/E ratio of 15.27 and a beta of 1.11. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 10.61.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. Analysts anticipate that GoDaddy Inc. will post 4.95 earnings per share for the current year.

Insider Activity

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $155.60, for a total transaction of $855,800.00. Following the completion of the transaction, the chief financial officer now directly owns 93,102 shares in the company, valued at $14,486,671.20. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the sale, the chief operating officer now directly owns 185,632 shares in the company, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,345 shares of company stock worth $3,897,255. 0.61% of the stock is currently owned by company insiders.

About GoDaddy

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.