PNC Financial Services Group Inc. Has $1.48 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

PNC Financial Services Group Inc. decreased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,894 shares of the technology company’s stock after selling 137 shares during the quarter. PNC Financial Services Group Inc.’s holdings in GoDaddy were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of GoDaddy in the 4th quarter valued at about $181,687,000. Federated Hermes Inc. increased its holdings in shares of GoDaddy by 3,402.0% in the 4th quarter. Federated Hermes Inc. now owns 955,559 shares of the technology company’s stock valued at $101,442,000 after purchasing an additional 928,273 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of GoDaddy by 7,379.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 723,752 shares of the technology company’s stock valued at $76,834,000 after purchasing an additional 714,075 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of GoDaddy by 71.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,664,382 shares of the technology company’s stock valued at $123,963,000 after purchasing an additional 695,897 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of GoDaddy by 9.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,360,266 shares of the technology company’s stock valued at $473,713,000 after purchasing an additional 561,614 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on GDDY. Robert W. Baird increased their price objective on GoDaddy from $150.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Raymond James began coverage on GoDaddy in a report on Wednesday, March 27th. They issued a “strong-buy” rating and a $150.00 price objective on the stock. Piper Sandler increased their price objective on GoDaddy from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Morgan Stanley increased their price objective on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Finally, Citigroup increased their price objective on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, GoDaddy presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.92.

Insider Activity

In other news, CEO Amanpal Singh Bhutani sold 7,600 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $138.92, for a total value of $1,055,792.00. Following the completion of the sale, the chief executive officer now directly owns 369,898 shares of the company’s stock, valued at $51,386,230.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Amanpal Singh Bhutani sold 7,600 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $138.92, for a total value of $1,055,792.00. Following the completion of the transaction, the chief executive officer now directly owns 369,898 shares of the company’s stock, valued at $51,386,230.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $72,221.07. Following the completion of the transaction, the chief accounting officer now directly owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,195 shares of company stock valued at $6,237,029. 0.61% of the stock is owned by company insiders.

GoDaddy Stock Down 0.2 %

GDDY opened at $137.66 on Friday. GoDaddy Inc. has a 1-year low of $69.18 and a 1-year high of $142.95. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 9.15. The stock has a market capitalization of $19.64 billion, a price-to-earnings ratio of 11.43 and a beta of 1.10. The business has a 50 day moving average of $132.90 and a 200-day moving average of $119.02.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. As a group, sell-side analysts anticipate that GoDaddy Inc. will post 4.82 earnings per share for the current year.

GoDaddy 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.