IFM Investors Pty Ltd Raises Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

IFM Investors Pty Ltd grew its stake in GoDaddy Inc. (NYSE:GDDY) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,263 shares of the technology company’s stock after buying an additional 2,599 shares during the quarter. IFM Investors Pty Ltd’s holdings in GoDaddy were worth $8,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GDDY. Advisors Capital Management LLC grew its position in shares of GoDaddy by 0.9% during the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company’s stock worth $1,223,000 after purchasing an additional 55 shares in the last quarter. BNP Paribas boosted its stake in GoDaddy by 2.9% during the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company’s stock valued at $417,000 after buying an additional 59 shares during the last quarter. City Holding Co. boosted its stake in GoDaddy by 30.0% during the first quarter. City Holding Co. now owns 260 shares of the technology company’s stock valued at $47,000 after buying an additional 60 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its stake in GoDaddy by 0.8% during the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company’s stock valued at $1,435,000 after buying an additional 67 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in GoDaddy by 4.1% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company’s stock valued at $344,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Insider Buying and Selling

In other news, COO Roger Chen sold 1,000 shares of GoDaddy stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $171.75, for a total value of $171,750.00. Following the transaction, the chief operating officer directly owned 256,949 shares in the company, valued at approximately $44,130,990.75. This trade represents a 0.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Mccaffrey sold 37,500 shares of GoDaddy stock in a transaction on Monday, May 5th. The shares were sold at an average price of $180.95, for a total value of $6,785,625.00. Following the completion of the transaction, the chief financial officer owned 77,250 shares in the company, valued at $13,978,387.50. This represents a 32.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,757 shares of company stock valued at $12,246,080. 0.61% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on GDDY. Jefferies Financial Group dropped their price target on GoDaddy from $200.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, April 7th. Citigroup dropped their price target on GoDaddy from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Piper Sandler raised their price objective on GoDaddy from $177.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of GoDaddy in a research note on Monday, June 23rd. Finally, Barclays lowered their price objective on GoDaddy from $243.00 to $235.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $214.86.

GoDaddy Price Performance

Shares of GDDY stock opened at $177.37 on Friday. GoDaddy Inc. has a 52-week low of $140.11 and a 52-week high of $216.00. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $25.27 billion, a P/E ratio of 34.11 and a beta of 1.05. The stock has a 50 day moving average price of $181.62 and a 200 day moving average price of $185.93.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.08). GoDaddy had a return on equity of 211.09% and a net margin of 16.20%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business posted $2.76 earnings per share. GoDaddy’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that GoDaddy Inc. will post 6.63 earnings per share for the current year.

GoDaddy Company 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.