Nuveen Asset Management LLC Has $196.69 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Nuveen Asset Management LLC lifted its holdings in GoDaddy Inc. (NYSE:GDDY) by 93.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 996,538 shares of the technology company’s stock after purchasing an additional 480,263 shares during the period. Nuveen Asset Management LLC owned 0.71% of GoDaddy worth $196,687,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. WCM Investment Management LLC grew its stake in GoDaddy by 7,083.4% in the 4th quarter. WCM Investment Management LLC now owns 3,404,066 shares of the technology company’s stock valued at $678,941,000 after buying an additional 3,356,678 shares during the last quarter. Norges Bank acquired a new stake in shares of GoDaddy in the fourth quarter valued at about $356,038,000. Canada Pension Plan Investment Board increased its stake in shares of GoDaddy by 107.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,386,137 shares of the technology company’s stock worth $273,582,000 after purchasing an additional 719,000 shares during the period. Congress Asset Management Co. bought a new stake in GoDaddy during the 4th quarter valued at approximately $111,923,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in GoDaddy by 88.2% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,381 shares of the technology company’s stock valued at $213,630,000 after buying an additional 507,374 shares during the last quarter. 90.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GDDY has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Benchmark restated a “buy” rating on shares of GoDaddy in a research note on Monday, April 28th. Citigroup reduced their price objective on GoDaddy from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Friday, April 25th. StockNews.com cut GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Jefferies Financial Group cut their target price on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, April 7th. Seven 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $214.86.

GoDaddy Stock Performance

NYSE GDDY opened at $189.80 on Friday. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company has a fifty day moving average of $178.11 and a 200-day moving average of $188.58. GoDaddy Inc. has a 52-week low of $134.63 and a 52-week high of $216.00. The company has a market capitalization of $27.04 billion, a P/E ratio of 29.43 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.76 EPS. As a group, equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other GoDaddy news, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $180.66, for a total value of $90,330.00. Following the completion of the transaction, the director now directly owns 22,121 shares of the company’s stock, valued at $3,996,379.86. This trade represents a 2.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the completion of the transaction, the chief operating officer now owns 256,949 shares of the company’s stock, valued at approximately $44,130,990.75. This trade represents a 0.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,500 shares of company stock valued at $10,050,555. 0.61% of the stock is owned by insiders.

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.