GoDaddy Inc. (NYSE:GDDY) Stake Raised by Truist Financial Corp

Truist Financial Corp boosted its holdings in GoDaddy Inc. (NYSE:GDDY) by 5.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 29,254 shares of the technology company’s stock after purchasing an additional 1,500 shares during the quarter. Truist Financial Corp’s holdings in GoDaddy were worth $5,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GDDY. WCM Investment Management LLC raised its position in GoDaddy by 7,083.4% in the fourth quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock worth $678,941,000 after acquiring an additional 3,356,678 shares in the last quarter. Congress Asset Management Co. bought a new stake in GoDaddy in the fourth quarter worth about $111,923,000. Mizuho Securities USA LLC raised its position in GoDaddy by 3,227.3% in the third quarter. Mizuho Securities USA LLC now owns 361,710 shares of the technology company’s stock worth $56,709,000 after acquiring an additional 350,839 shares in the last quarter. AustralianSuper Pty Ltd increased its stake in GoDaddy by 3,836.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 358,465 shares of the technology company’s stock worth $70,750,000 after purchasing an additional 349,358 shares in the last quarter. Finally, FMR LLC increased its stake in GoDaddy by 19.8% in the 3rd quarter. FMR LLC now owns 1,660,283 shares of the technology company’s stock worth $260,299,000 after purchasing an additional 274,014 shares in the last quarter. 90.28% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Brian Sharples sold 500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $98,885.00. Following the completion of the sale, the director now directly owns 23,621 shares in the company, valued at approximately $4,671,525.17. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $197.77, for a total value of $593,310.00. Following the completion of the sale, the chief executive officer now owns 342,956 shares of the company’s stock, valued at approximately $67,826,408.12. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,482 shares of company stock worth $4,903,930 in the last three months. 0.61% of the stock is owned by insiders.

GoDaddy Stock Down 1.6 %

Shares of GoDaddy stock opened at $173.82 on Friday. The firm has a market cap of $24.40 billion, a price-to-earnings ratio of 26.95 and a beta of 1.15. The company has a debt-to-equity ratio of 5.46, a current ratio of 0.72 and a quick ratio of 0.56. GoDaddy Inc. has a 52-week low of $108.38 and a 52-week high of $216.00. The stock has a 50-day simple moving average of $201.36 and a 200-day simple moving average of $181.13.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. On average, equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GDDY has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on GoDaddy from $224.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Citigroup lifted their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Piper Sandler lifted their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. B. Riley lifted their price target on GoDaddy from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Morgan Stanley lifted their price target on GoDaddy from $227.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $213.20.

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.