The Manufacturers Life Insurance Company Trims Stake in GoDaddy Inc. (NYSE:GDDY)

The Manufacturers Life Insurance Company cut its stake in shares of GoDaddy Inc. (NYSE:GDDYFree Report) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 124,139 shares of the technology company’s stock after selling 10,647 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of GoDaddy worth $13,179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its stake in GoDaddy by 9.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after acquiring an additional 561,614 shares during the last quarter. Norges Bank purchased a new stake in GoDaddy during the 4th quarter valued at approximately $181,687,000. Jacobs Levy Equity Management Inc. raised its stake in GoDaddy by 71.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after acquiring an additional 695,897 shares during the last quarter. Northern Trust Corp raised its stake in GoDaddy by 36.8% during the 3rd quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock valued at $103,946,000 after acquiring an additional 375,568 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in GoDaddy by 3,402.0% during the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock valued at $101,442,000 after acquiring an additional 928,273 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 2,500 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $120.00, for a total transaction of $300,000.00. Following the sale, the chief executive officer now owns 384,323 shares in the company, valued at approximately $46,118,760. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other GoDaddy news, CEO Amanpal Singh Bhutani sold 2,500 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $120.00, for a total transaction of $300,000.00. Following the sale, the chief executive officer now owns 384,323 shares in the company, valued at approximately $46,118,760. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Leah Sweet sold 1,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $141.59, for a total value of $141,590.00. Following the sale, the director now owns 11,317 shares in the company, valued at approximately $1,602,374.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,695 shares of company stock worth $6,537,029. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on GDDY shares. William Blair reaffirmed an “outperform” rating on shares of GoDaddy in a research note on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. UBS Group boosted their target price on GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Piper Sandler boosted their target price on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Finally, Royal Bank of Canada boosted their target price on GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, GoDaddy has a consensus rating of “Moderate Buy” and a consensus target price of $149.92.

View Our Latest Report on GDDY

GoDaddy Stock Performance

GDDY opened at $142.07 on Tuesday. The stock has a market cap of $20.27 billion, a P/E ratio of 11.80 and a beta of 1.10. The company has a debt-to-equity ratio of 9.15, a current ratio of 0.55 and a quick ratio of 0.55. The stock’s 50 day simple moving average is $130.55 and its 200 day simple moving average is $116.71. GoDaddy Inc. has a 1-year low of $69.18 and a 1-year high of $142.95.

GoDaddy (NYSE:GDDYGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. As a group, equities analysts anticipate that GoDaddy Inc. will post 4.82 EPS for the current fiscal year.

GoDaddy 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 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.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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