GoDaddy Inc. (NYSE:GDDY) Shares Acquired by Truist Financial Corp


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Truist Financial Corp boosted its stake in GoDaddy Inc. (NYSE:GDDY) by 114.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 29,664 shares of the technology company’s stock after acquiring an additional 15,843 shares during the quarter. Truist Financial Corp’s holdings in GoDaddy were worth $2,460,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. World Asset Management Inc grew its holdings in GoDaddy by 4.5% in the fourth quarter. World Asset Management Inc now owns 3,117 shares of the technology company’s stock valued at $259,000 after purchasing an additional 135 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in GoDaddy by 67.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 501 shares of the technology company’s stock valued at $42,000 after purchasing an additional 201 shares during the period. WCM Investment Management LLC grew its holdings in GoDaddy by 2.9% in the fourth quarter. WCM Investment Management LLC now owns 7,222 shares of the technology company’s stock valued at $599,000 after purchasing an additional 205 shares during the period. First Horizon Advisors Inc. grew its holdings in GoDaddy by 64.2% in the fourth quarter. First Horizon Advisors Inc. now owns 642 shares of the technology company’s stock valued at $52,000 after purchasing an additional 251 shares during the period. Finally, Bessemer Group Inc. grew its holdings in GoDaddy by 1.2% in the fourth quarter. Bessemer Group Inc. now owns 22,650 shares of the technology company’s stock valued at $1,879,000 after purchasing an additional 274 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

GDDY has been the subject of several research reports. Barclays boosted their price objective on shares of GoDaddy from $90.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, February 12th. Rosenblatt Securities boosted their price objective on shares of GoDaddy from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 12th. Oppenheimer boosted their price objective on shares of GoDaddy from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. Wolfe Research initiated coverage on shares of GoDaddy in a research note on Wednesday, March 31st. They set an “outperform” rating and a $92.00 price objective for the company. Finally, Piper Sandler boosted their price objective on shares of GoDaddy from $93.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, February 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. GoDaddy has an average rating of “Buy” and a consensus target price of $97.76.

In related news, insider Nima Kelly sold 3,446 shares of the company’s stock in a transaction on Wednesday, February 10th. The shares were sold at an average price of $92.50, for a total value of $318,755.00. Following the sale, the insider now directly owns 60,746 shares of the company’s stock, valued at $5,619,005. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Raymond E. Winborne, Jr. sold 58,297 shares of the company’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $84.53, for a total transaction of $4,927,845.41. Following the completion of the sale, the chief financial officer now directly owns 187,643 shares in the company, valued at $15,861,462.79. The disclosure for this sale can be found here. Insiders sold 97,728 shares of company stock worth $8,196,226 over the last ninety days. 0.52% of the stock is currently owned by corporate insiders.

Shares of GDDY stock opened at $85.90 on Tuesday. The company has a market capitalization of $14.61 billion, a PE ratio of -27.71, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96. The firm has a fifty day simple moving average of $78.16 and a 200-day simple moving average of $79.59. GoDaddy Inc. has a twelve month low of $60.47 and a twelve month high of $93.75.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings results on Thursday, February 11th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.08. The firm had revenue of $873.90 million for the quarter, compared to analysts’ expectations of $865.17 million. GoDaddy had a negative net margin of 15.67% and a positive return on equity of 94.14%. As a group, research analysts forecast that GoDaddy Inc. will post 1.27 EPS for the current fiscal year.

About GoDaddy

GoDaddy Inc engages in the design and development of cloud-based technology products in the United States and internationally. The company provides domain name registration product that enables to engage customers at the initial stage of establishing a digital identity. It also offers shared Website hosting products that provide various applications and products such as web analytics, SSL certificates, and WordPress; Website hosting on virtual private servers and virtual dedicated servers products, which allows customers to select the server configuration suited for their applications, requirements, and growth; managed hosting products to set up, monitor, maintain, secure, and patch software and servers for customers; and security products, a suite of tools designed to help secure customers' online presence.

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Institutional Ownership by Quarter for GoDaddy (NYSE:GDDY)

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