PGGM Investments Grows Stock Position in GoDaddy Inc. (NYSE:GDDY)

PGGM Investments boosted its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 6.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 46,687 shares of the technology company’s stock after buying an additional 2,797 shares during the period. PGGM Investments’ holdings in GoDaddy were worth $5,541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in GoDaddy by 94.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after acquiring an additional 1,775,708 shares during the last quarter. Norges Bank bought a new position in GoDaddy in the 4th quarter valued at $181,687,000. Federated Hermes Inc. grew its position in GoDaddy by 3,402.0% in 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. Los Angeles Capital Management LLC grew its position in GoDaddy by 7,379.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock valued at $76,834,000 after acquiring an additional 714,075 shares during the last quarter. Finally, Kodai Capital Management LP bought a new position in GoDaddy in the 1st quarter valued at $75,855,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 7.0 %

GoDaddy stock traded up $9.84 during midday trading on Friday, reaching $151.25. The company’s stock had a trading volume of 2,407,777 shares, compared to its average volume of 1,159,537. The stock’s 50-day simple moving average is $141.77 and its 200-day simple moving average is $127.02. 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 $152.09. The stock has a market capitalization of $21.58 billion, a P/E ratio of 12.56 and a beta of 1.14.

GoDaddy (NYSE:GDDY) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. GoDaddy had a negative return on equity of 363.95% and a net margin of 41.12%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. On average, sell-side analysts expect that GoDaddy Inc. will post 4.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GDDY. Raymond James upped their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research report on Friday. Robert W. Baird increased their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday. Piper Sandler increased their price target on GoDaddy from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group increased their price target on GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Finally, B. Riley increased their price target on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.75.

Insider Buying and Selling at GoDaddy

In other news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $138.84, for a total value of $555,360.00. Following the completion of the transaction, the chief operating officer now directly owns 196,632 shares in the company, valued at $27,300,386.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Roger Chen sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $138.84, for a total value of $555,360.00. Following the completion of the transaction, the chief operating officer now directly owns 196,632 shares in the company, valued at $27,300,386.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Leah Sweet sold 1,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $141.59, for a total value of $141,590.00. Following the completion of the transaction, the director now owns 11,317 shares of the company’s stock, valued at $1,602,374.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,071 shares of company stock worth $6,385,206. 0.61% of the stock is owned by insiders.

GoDaddy 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.