Franklin Resources Inc. Buys 38,511 Shares of GoDaddy Inc. (NYSE:GDDY)

Franklin Resources Inc. boosted its stake in GoDaddy Inc. (NYSE:GDDY) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 417,902 shares of the technology company’s stock after acquiring an additional 38,511 shares during the period. Franklin Resources Inc. owned 0.30% of GoDaddy worth $68,565,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GDDY. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in GoDaddy by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,097 shares of the technology company’s stock worth $2,837,000 after acquiring an additional 67 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in GoDaddy by 4.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,885 shares of the technology company’s stock valued at $296,000 after buying an additional 73 shares in the last quarter. Whittier Trust Co. raised its holdings in GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock valued at $249,000 after acquiring an additional 74 shares during the period. Lindbrook Capital LLC lifted its position in shares of GoDaddy by 11.3% during the third quarter. Lindbrook Capital LLC now owns 974 shares of the technology company’s stock worth $153,000 after acquiring an additional 99 shares in the last quarter. Finally, Equitable Trust Co. boosted its holdings in shares of GoDaddy by 1.3% in the third quarter. Equitable Trust Co. now owns 8,435 shares of the technology company’s stock worth $1,322,000 after acquiring an additional 107 shares during the period. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Stock Up 1.1 %

GDDY opened at $209.03 on Tuesday. GoDaddy Inc. has a 12 month low of $99.90 and a 12 month high of $211.11. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 10.61. The business’s 50-day moving average price is $180.63 and its 200-day moving average price is $160.59. The company has a market cap of $29.35 billion, a P/E ratio of 16.15 and a beta of 1.15.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. GoDaddy had a return on equity of 267.29% and a net margin of 41.74%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. On average, equities analysts expect that GoDaddy Inc. will post 4.96 EPS for the current year.

Insider Buying and Selling at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $155.60, for a total value of $466,800.00. Following the completion of the sale, the chief executive officer now owns 348,956 shares of the company’s stock, valued at $54,297,553.60. This trade represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Phontip Palitwanon sold 770 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $196.64, for a total transaction of $151,412.80. Following the transaction, the chief accounting officer now directly owns 23,059 shares in the company, valued at approximately $4,534,321.76. The trade was a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,503 shares of company stock valued at $3,950,683 in the last quarter. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. B. Riley raised their price objective on shares of GoDaddy from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Benchmark boosted their price target on shares of GoDaddy from $186.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird increased their price objective on GoDaddy from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price objective (up previously from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Finally, StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, GoDaddy currently has an average rating of “Moderate Buy” and an average target price of $181.57.

About GoDaddy

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.