Goldman Sachs Group Inc. Acquires 110,076 Shares of GoDaddy Inc. (NYSE:GDDY)

Goldman Sachs Group Inc. raised its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 905,858 shares of the technology company’s stock after acquiring an additional 110,076 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.64% of GoDaddy worth $96,166,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ameriprise Financial Inc. raised its holdings in GoDaddy by 9.7% during the third 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 period. Norges Bank bought a new stake in shares of GoDaddy in the fourth quarter worth about $181,687,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of GoDaddy by 71.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock worth $123,963,000 after purchasing an additional 695,897 shares during the last quarter. Northern Trust Corp increased its holdings in shares of GoDaddy by 36.8% in the third quarter. Northern Trust Corp now owns 1,395,619 shares of the technology company’s stock worth $103,946,000 after purchasing an additional 375,568 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of GoDaddy by 3,402.0% in the fourth quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock worth $101,442,000 after purchasing an additional 928,273 shares during the last quarter. 90.28% of the stock is owned by institutional investors.

Insider Activity at GoDaddy

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

GoDaddy Stock Down 0.5 %

Shares of GDDY stock traded down $0.65 during trading hours on Friday, reaching $137.53. 912,915 shares of the company’s stock were exchanged, compared to its average volume of 1,266,653. The stock’s 50 day moving average is $131.71 and its 200-day moving average is $117.75. The company has a market cap of $19.62 billion, a price-to-earnings ratio of 11.42 and a beta of 1.10. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. GoDaddy Inc. has a fifty-two week low of $69.18 and a fifty-two week high of $142.95.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) 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 the consensus estimate of $1.10 billion. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. Analysts predict that GoDaddy Inc. will post 4.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

GDDY has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. B. Riley boosted their price objective on GoDaddy from $124.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Raymond James initiated coverage on GoDaddy in a research note on Wednesday, March 27th. They set a “strong-buy” rating and a $150.00 price objective on the stock. UBS Group boosted their price objective on GoDaddy from $118.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley boosted their price objective on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.92.

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.