PGGM Investments Boosts Stake in GoDaddy Inc. (NYSE:GDDY)

PGGM Investments increased its position in GoDaddy Inc. (NYSE:GDDY) by 12.2% in the 4th quarter, Holdings Channel reports. The firm owned 43,890 shares of the technology company’s stock after buying an additional 4,774 shares during the period. PGGM Investments’ holdings in GoDaddy were worth $4,659,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in GoDaddy by 9.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after acquiring an additional 561,614 shares during the period. Jacobs Levy Equity Management Inc. increased its position in GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after purchasing an additional 695,897 shares during the period. Bank of New York Mellon Corp increased its position in GoDaddy by 88.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,435,153 shares of the technology company’s stock worth $106,890,000 after purchasing an additional 674,719 shares during the period. Northern Trust Corp increased its position in GoDaddy by 36.8% during the 3rd quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock worth $103,946,000 after purchasing an additional 375,568 shares during the period. Finally, Federated Hermes Inc. increased its position in GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after purchasing an additional 928,273 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Trading Up 0.7 %

Shares of GoDaddy stock opened at $125.01 on Monday. GoDaddy Inc. has a fifty-two week low of $67.43 and a fifty-two week high of $127.15. The firm has a market cap of $17.81 billion, a PE ratio of 13.05 and a beta of 1.12. The business’s fifty day moving average is $118.76 and its two-hundred day moving average is $105.18. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 61.07.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on GDDY. Evercore ISI cut GoDaddy from an “outperform” rating to an “in-line” rating and boosted their target price for the stock from $100.00 to $110.00 in a research report on Wednesday, February 14th. B. Riley upped their price target on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Benchmark restated a “buy” rating and issued a $150.00 price target on shares of GoDaddy in a report on Thursday, March 7th. JPMorgan Chase & Co. upped their price target on GoDaddy from $128.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy currently has a consensus rating of “Moderate Buy” and an average target price of $135.18.

Insider Buying and Selling

In related news, CAO Nick Daddario sold 1,823 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 $201,514.42. Following the transaction, the chief accounting officer now directly owns 25,263 shares of the company’s stock, valued at approximately $2,792,572.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Nick Daddario sold 1,823 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 $201,514.42. Following the completion of the sale, the chief accounting officer now directly owns 25,263 shares in the company, valued at approximately $2,792,572.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 624 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $120.83, for a total value of $75,397.92. Following the completion of the sale, the chief financial officer now owns 116,328 shares of the company’s stock, valued at $14,055,912.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,234 shares of company stock valued at $13,534,946. 0.54% of the stock is currently owned by company insiders.

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.