Price T Rowe Associates Inc. MD Grows Stake in GoDaddy Inc. (NYSE:GDDY)

Price T Rowe Associates Inc. MD increased its stake in GoDaddy Inc. (NYSE:GDDY) by 94.4% in the 1st quarter, HoldingsChannel reports. The fund owned 3,655,994 shares of the technology company’s stock after acquiring an additional 1,775,708 shares during the period. Price T Rowe Associates Inc. MD’s holdings in GoDaddy were worth $433,895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fiera Capital Corp lifted its stake in GoDaddy by 1.3% in the fourth quarter. Fiera Capital Corp now owns 828,124 shares of the technology company’s stock worth $87,914,000 after purchasing an additional 10,312 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in GoDaddy in the fourth quarter worth about $4,204,000. Forsta AP Fonden lifted its stake in GoDaddy by 87.5% in the first quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after purchasing an additional 39,200 shares during the last quarter. International Assets Investment Management LLC bought a new stake in GoDaddy in the fourth quarter worth about $1,972,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in GoDaddy by 866.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after purchasing an additional 9,266 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, COO Roger Chen sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total transaction of $490,400.00. Following the sale, the chief operating officer now owns 200,632 shares in the company, valued at approximately $24,597,483.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other GoDaddy news, CAO Nick Daddario sold 523 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total transaction of $72,221.07. Following the sale, the chief accounting officer now owns 22,666 shares in the company, valued at approximately $3,129,947.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $122.60, for a total value of $490,400.00. Following the completion of the sale, the chief operating officer now owns 200,632 shares in the company, valued at approximately $24,597,483.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,071 shares of company stock worth $6,875,606. 0.61% of the stock is currently owned by insiders.

GoDaddy Stock Up 0.7 %

NYSE GDDY traded up $1.02 on Monday, hitting $144.67. The stock had a trading volume of 194,354 shares, compared to its average volume of 1,618,986. The business’s fifty day moving average price is $141.15 and its 200 day moving average price is $125.91. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. GoDaddy Inc. has a 52-week low of $69.18 and a 52-week high of $148.71. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of 11.93 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. Equities research analysts anticipate that GoDaddy Inc. will post 4.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Benchmark reissued a “buy” rating and issued a $150.00 price objective on shares of GoDaddy in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Royal Bank of Canada lifted their price target on shares of GoDaddy from $124.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. B. Riley boosted their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Barclays boosted their price objective on shares of GoDaddy from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $152.25.

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.