First Hawaiian Bank Buys 6,929 Shares of GoDaddy Inc. (NYSE:GDDY)

First Hawaiian Bank raised its position in GoDaddy Inc. (NYSE:GDDY) by 99.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,885 shares of the technology company’s stock after buying an additional 6,929 shares during the quarter. First Hawaiian Bank’s holdings in GoDaddy were worth $2,740,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its stake in shares of GoDaddy by 2.2% during the third quarter. State Street Corp now owns 6,892,134 shares of the technology company’s stock worth $1,080,549,000 after buying an additional 147,105 shares during the last quarter. Geode Capital Management LLC raised its position in shares of GoDaddy by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,423,622 shares of the technology company’s stock valued at $535,153,000 after acquiring an additional 84,550 shares during the last quarter. FMR LLC lifted its stake in shares of GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock valued at $260,299,000 after purchasing an additional 274,014 shares during the period. Federated Hermes Inc. boosted its position 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 worth $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of GoDaddy by 17.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,368,693 shares of the technology company’s stock worth $214,584,000 after purchasing an additional 203,909 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GoDaddy

In other GoDaddy news, CFO Mark Mccaffrey sold 5,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total transaction of $1,094,555.00. Following the transaction, the chief financial officer now owns 84,300 shares in the company, valued at $16,776,543. This represents a 6.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $164.16, for a total transaction of $164,160.00. Following the transaction, the chief operating officer now directly owns 186,632 shares in the company, valued at $30,637,509.12. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,003 shares of company stock worth $4,626,523. Company insiders own 0.61% of the company’s stock.

GoDaddy Trading Up 0.7 %

Shares of NYSE:GDDY opened at $196.91 on Thursday. GoDaddy Inc. has a 52-week low of $102.60 and a 52-week high of $211.11. The company has a debt-to-equity ratio of 10.61, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $27.64 billion, a P/E ratio of 15.22 and a beta of 1.15. The company has a 50-day simple moving average of $194.36 and a 200 day simple moving average of $168.21.

GoDaddy (NYSE:GDDY) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) 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 analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.89 earnings per share. Sell-side analysts forecast that GoDaddy Inc. will post 4.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on GDDY. Barclays increased their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group increased their target price on shares of GoDaddy from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird boosted their price target on shares of GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $170.00 target price on shares of GoDaddy in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.71.

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.