GoDaddy Inc. (NYSE:GDDY) Stake Reduced by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its position in GoDaddy Inc. (NYSE:GDDYFree Report) by 61.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,853 shares of the technology company’s stock after selling 114,366 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in GoDaddy were worth $5,277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in GoDaddy by 0.7% in the first quarter. Vanguard Group Inc. now owns 16,202,298 shares of the technology company’s stock worth $1,356,131,000 after purchasing an additional 107,949 shares during the period. BlackRock Inc. increased its position in GoDaddy by 23.6% in the second quarter. BlackRock Inc. now owns 10,522,511 shares of the technology company’s stock worth $790,556,000 after purchasing an additional 2,010,233 shares during the period. Starboard Value LP increased its position in GoDaddy by 23.9% in the fourth quarter. Starboard Value LP now owns 10,233,055 shares of the technology company’s stock worth $765,637,000 after purchasing an additional 1,973,118 shares during the period. Morgan Stanley boosted its holdings in GoDaddy by 517.4% during the fourth quarter. Morgan Stanley now owns 6,125,512 shares of the technology company’s stock worth $458,311,000 after buying an additional 5,133,332 shares during the last quarter. Finally, State Street Corp boosted its holdings in GoDaddy by 2.3% during the first quarter. State Street Corp now owns 3,941,457 shares of the technology company’s stock worth $329,900,000 after buying an additional 90,041 shares during the last quarter. 95.03% of the stock is currently owned by institutional investors and hedge funds.

GoDaddy Stock Performance

NYSE GDDY opened at $112.92 on Monday. The stock has a market capitalization of $15.94 billion, a price-to-earnings ratio of 48.46 and a beta of 1.12. The stock’s 50 day moving average price is $106.22 and its two-hundred day moving average price is $87.66. GoDaddy Inc. has a 52 week low of $67.43 and a 52 week high of $113.70.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler upgraded GoDaddy from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 9th. Barclays raised their target price on GoDaddy from $100.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, January 18th. Royal Bank of Canada upgraded GoDaddy from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $90.00 to $124.00 in a report on Wednesday, November 22nd. Benchmark raised their target price on GoDaddy from $96.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Finally, StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, January 26th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.88.

View Our Latest Stock Report on GoDaddy

Insiders Place Their Bets

In other GoDaddy news, CFO Mark Mccaffrey sold 505 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $102.47, for a total transaction of $51,747.35. Following the transaction, the chief financial officer now owns 77,158 shares of the company’s stock, valued at approximately $7,906,380.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other GoDaddy news, CAO Nick Daddario sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $89.26, for a total transaction of $26,778.00. Following the transaction, the chief accounting officer now owns 18,196 shares of the company’s stock, valued at approximately $1,624,174.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mccaffrey sold 505 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $102.47, for a total value of $51,747.35. Following the transaction, the chief financial officer now directly owns 77,158 shares in the company, valued at approximately $7,906,380.26. The disclosure for this sale can be found here. Insiders have sold 86,119 shares of company stock valued at $8,306,786 in the last 90 days. 0.54% of the stock is currently owned by insiders.

GoDaddy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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