Prudential PLC Has $1.33 Million Stock Position in GoDaddy Inc. (NYSE:GDDY)

Prudential PLC grew its stake in GoDaddy Inc. (NYSE:GDDY) by 83.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,086 shares of the technology company’s stock after purchasing an additional 7,784 shares during the quarter. Prudential PLC’s holdings in GoDaddy were worth $1,328,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of GoDaddy by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock valued at $1,356,131,000 after purchasing an additional 107,949 shares during the period. Starboard Value LP lifted its stake in shares of GoDaddy by 23.9% in the 4th quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock valued at $765,637,000 after purchasing an additional 1,973,118 shares during the period. Morgan Stanley lifted its stake in shares of GoDaddy by 517.4% in the 4th quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock valued at $458,311,000 after purchasing an additional 5,133,332 shares during the period. State Street Corp lifted its stake in shares of GoDaddy by 2.3% in the 1st quarter. State Street Corp now owns 3,941,457 shares of the technology company’s stock valued at $329,900,000 after purchasing an additional 90,041 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in GoDaddy by 11.2% during the 4th quarter. JPMorgan Chase & Co. now owns 2,132,628 shares of the technology company’s stock worth $159,563,000 after buying an additional 214,222 shares during the period. Institutional investors and hedge funds own 95.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on GDDY shares. Piper Sandler reaffirmed a “neutral” rating and set a $84.00 price objective on shares of GoDaddy in a research note on Friday, August 4th. StockNews.com raised GoDaddy from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays dropped their price objective on GoDaddy from $98.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. B. Riley started coverage on GoDaddy in a research note on Wednesday, June 28th. They set a “buy” rating and a $102.00 price objective on the stock. Finally, Royal Bank of Canada began coverage on GoDaddy in a research note on Monday, June 5th. They set a “sector perform” rating and a $80.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.00.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $72.65 on Tuesday. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of 35.10 and a beta of 0.95. The business has a 50-day moving average of $73.65 and a 200-day moving average of $74.06. GoDaddy Inc. has a fifty-two week low of $64.65 and a fifty-two week high of $85.32.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.05 billion. GoDaddy had a negative return on equity of 83.74% and a net margin of 7.78%. On average, sell-side analysts expect that GoDaddy Inc. will post 2.81 EPS for the current year.

Insiders Place Their Bets

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 2,016 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $74.93, for a total transaction of $151,058.88. Following the completion of the sale, the chief executive officer now directly owns 273,125 shares in the company, valued at $20,465,256.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Mark Mccaffrey sold 7,013 shares of GoDaddy stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $74.93, for a total value of $525,484.09. Following the completion of the sale, the chief financial officer now directly owns 85,596 shares in the company, valued at $6,413,708.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Amanpal Singh Bhutani sold 2,016 shares of GoDaddy stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $74.93, for a total transaction of $151,058.88. Following the completion of the sale, the chief executive officer now owns 273,125 shares of the company’s stock, valued at $20,465,256.25. The disclosure for this sale can be found here. Insiders sold 25,320 shares of company stock worth $1,863,982 over the last three months. Insiders own 0.54% of the company’s stock.

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 hosting platform that allows customers to build and manage a faster and more secure WordPress site and offered with WooCommerce to sell online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business listings, and email and social media marketing designed to help businesses acquire and engage customers and create content.