Panagora Asset Management Inc. boosted its holdings in shares of GoDaddy Inc. (NYSE:GDDY – Free Report) by 302.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,267 shares of the technology company’s stock after buying an additional 32,508 shares during the quarter. Panagora Asset Management Inc.’s holdings in GoDaddy were worth $6,045,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in shares of GoDaddy during the fourth quarter worth $28,000. Transcendent Capital Group LLC purchased a new position in shares of GoDaddy during the 2nd quarter valued at about $28,000. GAMMA Investing LLC lifted its holdings in shares of GoDaddy by 102.3% in the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 133 shares during the period. ORG Partners LLC purchased a new stake in shares of GoDaddy in the second quarter worth about $32,000. Finally, Frazier Financial Advisors LLC acquired a new stake in GoDaddy during the fourth quarter worth about $33,000. 90.28% of the stock is currently owned by institutional investors and hedge funds.
GoDaddy Trading Up 1.5 %
GDDY stock opened at $167.41 on Friday. GoDaddy Inc. has a 12-month low of $71.15 and a 12-month high of $167.65. The business’s 50-day moving average is $150.52 and its 200 day moving average is $134.23. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The stock has a market cap of $23.89 billion, a price-to-earnings ratio of 13.90 and a beta of 1.14.
Insider Transactions at GoDaddy
In other news, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares of the company’s stock, valued at $16,686,868.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 4,661 shares in the company, valued at approximately $734,620.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The disclosure for this sale can be found here. Insiders sold 51,913 shares of company stock valued at $7,416,831 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts have issued reports on GDDY shares. Barclays boosted their price target on GoDaddy from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Citigroup boosted their target price on shares of GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Royal Bank of Canada raised their price target on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Morgan Stanley upped their price objective on shares of GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, Evercore ISI increased their target price on shares of GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Four 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 stock. According to data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $163.58.
View Our Latest Stock Report on GoDaddy
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.
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