GoDaddy Inc. (NYSE:GDDY) Shares Acquired by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 0.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 74,172 shares of the technology company’s stock after buying an additional 386 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of GoDaddy worth $13,361,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. bought a new stake in shares of GoDaddy during the 4th quarter worth $220,000. Global Retirement Partners LLC increased its stake in GoDaddy by 31.1% in the 4th quarter. Global Retirement Partners LLC now owns 392 shares of the technology company’s stock worth $77,000 after purchasing an additional 93 shares in the last quarter. Private Advisor Group LLC raised its holdings in GoDaddy by 6.8% during the 4th quarter. Private Advisor Group LLC now owns 2,335 shares of the technology company’s stock worth $461,000 after buying an additional 148 shares during the period. Howard Capital Management Inc. purchased a new stake in GoDaddy during the fourth quarter valued at about $217,000. Finally, Bank of New York Mellon Corp lifted its stake in GoDaddy by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 949,691 shares of the technology company’s stock valued at $187,441,000 after buying an additional 26,341 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other news, CEO Amanpal Singh Bhutani sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $179.85, for a total transaction of $539,550.00. Following the completion of the sale, the chief executive officer now owns 443,947 shares in the company, valued at approximately $79,843,867.95. This represents a 0.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $179.85, for a total value of $989,175.00. Following the completion of the transaction, the chief financial officer now directly owns 115,375 shares in the company, valued at $20,750,193.75. The trade was a 4.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,632 shares of company stock worth $12,602,635 in the last 90 days. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GDDY. JPMorgan Chase & Co. boosted their price target on shares of GoDaddy from $231.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Morgan Stanley lowered their price objective on shares of GoDaddy from $228.00 to $206.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Benchmark restated a “buy” rating on shares of GoDaddy in a report on Monday, April 28th. Piper Sandler raised their target price on GoDaddy from $177.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Finally, Wall Street Zen lowered GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GoDaddy has an average rating of “Moderate Buy” and a consensus price target of $214.86.

GoDaddy Stock Performance

Shares of NYSE GDDY opened at $177.54 on Thursday. GoDaddy Inc. has a one year low of $138.48 and a one year high of $216.00. The business’s 50-day moving average price is $181.12 and its two-hundred day moving average price is $187.42. The company has a debt-to-equity ratio of 18.91, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $25.30 billion, a P/E ratio of 34.14 and a beta of 1.07.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.76 EPS. Analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal 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.