Lbp Am Sa Purchases Shares of 25,455 GoDaddy Inc. (NYSE:GDDY)

Lbp Am Sa acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 25,455 shares of the technology company’s stock, valued at approximately $3,021,000.

A number of other hedge funds have also made changes to their positions in GDDY. V Square Quantitative Management LLC acquired a new stake in GoDaddy during the 4th quarter worth approximately $28,000. GAMMA Investing LLC grew its position in shares of GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in GoDaddy during the 4th quarter worth about $33,000. Rise Advisors LLC acquired a new position in shares of GoDaddy in the first quarter valued at approximately $48,000. Finally, UMB Bank n.a. purchased a new position in shares of GoDaddy during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of GoDaddy from $124.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Citigroup lifted their price target on shares of GoDaddy from $150.00 to $165.00 and gave the company a “buy” rating in a report on Friday, May 31st. StockNews.com upgraded GoDaddy from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Benchmark reaffirmed a “buy” rating and set a $158.00 price target on shares of GoDaddy in a research note on Monday. Finally, William Blair restated an “outperform” rating on shares of GoDaddy in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $152.92.

GoDaddy Price Performance

Shares of NYSE GDDY traded down $4.04 during midday trading on Thursday, reaching $141.41. The company’s stock had a trading volume of 1,975,893 shares, compared to its average volume of 1,622,200. GoDaddy Inc. has a one year low of $69.18 and a one year high of $148.71. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 12.17 and a beta of 1.14. The company has a 50 day moving average price of $141.49 and a 200 day moving average price of $126.59. 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 (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.08. The firm 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%. On average, equities research analysts expect that GoDaddy Inc. will post 4.81 EPS for the current year.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 6,825 shares of GoDaddy stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $942,464.25. Following the completion of the sale, the chief executive officer now owns 377,498 shares of the company’s stock, valued at approximately $52,128,698.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other GoDaddy news, Director Leah Sweet sold 1,000 shares of the business’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 transaction, the director now owns 11,317 shares of the company’s stock, valued at approximately $1,602,374.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amanpal Singh Bhutani sold 6,825 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $138.09, for a total value of $942,464.25. Following the completion of the sale, the chief executive officer now directly owns 377,498 shares in the company, valued at $52,128,698.82. The disclosure for this sale can be found here. Insiders sold a total of 46,071 shares of company stock worth $6,385,206 in the last three months. 0.61% of the stock is owned by insiders.

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.