43,107 Shares in GoDaddy Inc. (NYSE:GDDY) Purchased by APG Asset Management US Inc.

APG Asset Management US Inc. bought a new stake in GoDaddy Inc. (NYSE:GDDY) during the second quarter, HoldingsChannel.com reports. The fund bought 43,107 shares of the technology company’s stock, valued at approximately $6,100,000.

Several other institutional investors have also recently bought and sold shares of GDDY. Plato Investment Management Ltd raised its holdings in shares of GoDaddy by 2,471.0% in the first quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after purchasing an additional 6,227 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after purchasing an additional 35,703 shares in the last quarter. Forsta AP Fonden increased its stake in GoDaddy by 87.5% in the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock valued at $9,969,000 after buying an additional 39,200 shares during the last quarter. Swedbank AB lifted its position in GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after buying an additional 5,247 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of GoDaddy by 866.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after buying an additional 9,266 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Insiders Place Their Bets

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now 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 is accessible through the SEC website. In related news, CAO Nick Daddario sold 684 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $157.23, for a total transaction of $107,545.32. Following the completion of the sale, the chief accounting officer now owns 17,704 shares of the company’s stock, valued at $2,783,599.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sigal Zarmi sold 400 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total transaction of $63,044.00. Following the completion of the transaction, the director now directly owns 4,661 shares in the company, valued at $734,620.21. The disclosure for this sale can be found here. Insiders sold 31,744 shares of company stock worth $4,816,386 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GDDY. Citigroup upped their target price on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Benchmark upped their price objective on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Robert W. Baird increased their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Raymond James boosted their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $170.00 price target on shares of GoDaddy in a research note on Monday. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.54.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $155.63 on Friday. The firm has a market cap of $22.21 billion, a P/E ratio of 12.93 and a beta of 1.13. The business’s 50 day moving average is $155.31 and its 200-day moving average is $139.98. 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 1-year low of $71.15 and a 1-year high of $167.65.

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

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.