The Manufacturers Life Insurance Company Boosts Position in GoDaddy Inc. (NYSE:GDDY)

The Manufacturers Life Insurance Company raised its stake in GoDaddy Inc. (NYSE:GDDY) by 20.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,810 shares of the technology company’s stock after purchasing an additional 15,452 shares during the period. The Manufacturers Life Insurance Company’s holdings in GoDaddy were worth $14,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 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. Dimensional Fund Advisors LP boosted its stake in GoDaddy by 37.7% in the second quarter. Dimensional Fund Advisors LP now owns 861,066 shares of the technology company’s stock valued at $120,305,000 after acquiring an additional 235,934 shares in the last quarter. Fiera Capital Corp boosted its stake in GoDaddy by 1.6% in the second quarter. Fiera Capital Corp now owns 828,326 shares of the technology company’s stock valued at $115,725,000 after acquiring an additional 13,206 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of GoDaddy by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 525,944 shares of the technology company’s stock worth $73,480,000 after purchasing an additional 11,121 shares during the last quarter. Finally, APG Asset Management N.V. increased its position in shares of GoDaddy by 57.2% during the second quarter. APG Asset Management N.V. now owns 499,990 shares of the technology company’s stock worth $65,177,000 after purchasing an additional 181,944 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In related news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Tuesday, October 1st. The stock was 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 of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $183.80, for a total value of $183,800.00. Following the sale, the chief operating officer now owns 185,632 shares in the company, valued at approximately $34,119,161.60. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,345 shares of company stock valued at $3,897,255 in the last ninety days. 0.61% of the stock is currently owned by company insiders.

GoDaddy Stock Performance

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

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s quarterly 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. Research analysts expect that GoDaddy Inc. will post 4.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GDDY shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research report on Monday, October 7th. Royal Bank of Canada raised their target price on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird upped their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Barclays raised their price objective on shares of GoDaddy from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Benchmark upped their target price on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 31st. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.31.

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.