MetLife Investment Management LLC Has $6.76 Million Stake in GoDaddy Inc. (NYSE:GDDY)

MetLife Investment Management LLC reduced its holdings in GoDaddy Inc. (NYSE:GDDY) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,097 shares of the technology company’s stock after selling 1,056 shares during the period. MetLife Investment Management LLC’s holdings in GoDaddy were worth $6,757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in shares of GoDaddy by 3.4% in the third quarter. Principal Financial Group Inc. now owns 198,058 shares of the technology company’s stock valued at $31,052,000 after acquiring an additional 6,424 shares during the last quarter. Highland Capital Management LLC acquired a new position in shares of GoDaddy during the 3rd quarter worth approximately $1,132,000. Swedbank AB raised its stake in shares of GoDaddy by 3.5% during the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after purchasing an additional 5,247 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of GoDaddy by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 44,054 shares of the technology company’s stock valued at $6,907,000 after buying an additional 9,631 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in GoDaddy by 293.8% during the second quarter. QRG Capital Management Inc. now owns 24,389 shares of the technology company’s stock worth $3,407,000 after buying an additional 18,195 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on GDDY shares. Barclays increased their price target on shares of GoDaddy from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Cantor Fitzgerald reissued a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday, October 7th. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Raymond James boosted their target price on GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a report on Friday, August 2nd. Finally, Robert W. Baird raised their price target on GoDaddy from $200.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.31.

GoDaddy Trading Down 0.1 %

Shares of GDDY stock opened at $197.68 on Friday. The stock has a 50 day simple moving average of $170.85 and a 200 day simple moving average of $155.58. GoDaddy Inc. has a 1 year low of $98.13 and a 1 year high of $202.56. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The stock has a market cap of $27.75 billion, a P/E ratio of 15.28 and a beta of 1.11.

GoDaddy (NYSE:GDDY) last released its earnings results on Wednesday, October 30th. The technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. GoDaddy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. On average, research analysts predict that GoDaddy Inc. will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling at GoDaddy

In related news, CAO Nick Daddario sold 2,976 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.61, for a total transaction of $451,191.36. Following the completion of the sale, the chief accounting officer now directly owns 14,728 shares in the company, valued at $2,232,912.08. This represents a 16.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $183.80, for a total value of $183,800.00. Following the completion of the transaction, the chief operating officer now owns 185,632 shares in the company, valued at approximately $34,119,161.60. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,345 shares of company stock valued at $3,897,255 in the last ninety days. 0.61% of the stock is currently owned by company 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.