American Century Companies Inc. Boosts Stake in GoDaddy Inc. (NYSE:GDDY)

American Century Companies Inc. grew its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 374.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,451 shares of the technology company’s stock after acquiring an additional 118,731 shares during the quarter. American Century Companies Inc. owned about 0.11% of GoDaddy worth $21,020,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GDDY. Price T Rowe Associates Inc. MD raised its stake in GoDaddy by 94.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after purchasing an additional 1,775,708 shares in the last quarter. Norges Bank bought a new stake in shares of GoDaddy during the 4th quarter worth $181,687,000. Kodai Capital Management LP purchased a new position in GoDaddy in the first quarter worth $75,855,000. Bank of Nova Scotia increased its stake in GoDaddy by 3,411.0% in the fourth quarter. Bank of Nova Scotia now owns 438,002 shares of the technology company’s stock valued at $46,497,000 after acquiring an additional 425,527 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in GoDaddy by 2.6% during the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock worth $1,748,603,000 after purchasing an additional 379,228 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 4,500 shares of GoDaddy stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $629,055.00. Following the sale, the chief executive officer now directly owns 365,398 shares in the company, valued at $51,078,986.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total transaction of $906,125.00. Following the completion of the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $629,055.00. Following the completion of the sale, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,744 shares of company stock valued at $4,816,386. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. B. Riley increased their price objective on GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Robert W. Baird lifted their price target on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Piper Sandler boosted their price objective on shares of GoDaddy from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Finally, Raymond James boosted their price target on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and a consensus target price of $164.08.

GoDaddy Stock Up 3.8 %

Shares of GoDaddy stock opened at $160.18 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy Inc. has a 12-month low of $71.15 and a 12-month high of $167.65. The company has a market cap of $22.86 billion, a P/E ratio of 13.30 and a beta of 1.13. The company’s fifty day simple moving average is $154.05 and its two-hundred day simple moving average is $138.35.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a net margin of 41.12% and a negative return on equity of 709.73%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. GoDaddy’s quarterly revenue was up 7.3% compared to the same quarter last year. Research analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current year.

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.