Federated Hermes Inc. Has $101.44 Million Position in GoDaddy Inc. (NYSE:GDDY)

Federated Hermes Inc. raised its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 3,402.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 955,559 shares of the technology company’s stock after buying an additional 928,273 shares during the quarter. Federated Hermes Inc.’s holdings in GoDaddy were worth $101,442,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GDDY. Vanguard Group Inc. lifted its holdings in shares of GoDaddy by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock valued at $1,356,131,000 after purchasing an additional 107,949 shares in the last quarter. Starboard Value LP lifted its holdings in shares of GoDaddy by 23.9% during the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock valued at $765,637,000 after purchasing an additional 1,973,118 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of GoDaddy by 2.0% during the 1st quarter. BlackRock Inc. now owns 8,512,278 shares of the technology company’s stock valued at $661,574,000 after purchasing an additional 163,174 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of GoDaddy by 9.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after purchasing an additional 561,614 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of GoDaddy by 517.4% during the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock valued at $458,311,000 after purchasing an additional 5,133,332 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Trading Down 0.9 %

NYSE GDDY opened at $121.29 on Friday. GoDaddy Inc. has a 12 month low of $67.43 and a 12 month high of $127.15. The stock has a 50 day moving average of $117.43 and a 200-day moving average of $102.73. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 61.07. The company has a market cap of $17.28 billion, a PE ratio of 12.66 and a beta of 1.12.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Tuesday, February 13th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.05. GoDaddy had a negative return on equity of 89.25% and a net margin of 32.74%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.10 billion. On average, equities research analysts anticipate that GoDaddy Inc. will post 4.76 EPS for the current fiscal year.

Insider Activity at GoDaddy

In related news, COO Roger Chen sold 4,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total value of $456,440.00. Following the sale, the chief operating officer now owns 208,632 shares in the company, valued at approximately $23,806,997.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $114.11, for a total transaction of $456,440.00. Following the transaction, the chief operating officer now owns 208,632 shares in the company, valued at approximately $23,806,997.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mccaffrey sold 28,392 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $110.54, for a total value of $3,138,451.68. Following the transaction, the chief financial officer now owns 120,952 shares in the company, valued at approximately $13,370,034.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,234 shares of company stock worth $13,534,946. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GDDY shares. Robert W. Baird lifted their price objective on GoDaddy from $130.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, March 25th. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. upped their price target on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. B. Riley upped their price target on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Morgan Stanley upped their price target on GoDaddy from $120.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 14th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.18.

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.