GoDaddy Inc. (NYSE:GDDY) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lessened its position in shares of GoDaddy Inc. (NYSE:GDDY) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,391 shares of the technology company’s stock after selling 5,385 shares during the quarter. Ensign Peak Advisors Inc’s holdings in GoDaddy were worth $9,695,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GDDY. Plato Investment Management Ltd grew its position in shares of GoDaddy by 2,471.0% during the 1st quarter. Plato Investment Management Ltd now owns 6,479 shares of the technology company’s stock valued at $769,000 after acquiring an additional 6,227 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of GoDaddy by 20.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock valued at $25,469,000 after buying an additional 35,703 shares in the last quarter. Forsta AP Fonden raised its stake in shares of GoDaddy by 87.5% during the 1st quarter. Forsta AP Fonden now owns 84,000 shares of the technology company’s stock worth $9,969,000 after buying an additional 39,200 shares during the period. Swedbank AB grew its stake in GoDaddy by 3.5% in the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock valued at $21,425,000 after acquiring an additional 5,247 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in GoDaddy by 866.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,335 shares of the technology company’s stock worth $1,227,000 after acquiring an additional 9,266 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Performance

NYSE:GDDY opened at $157.78 on Wednesday. The company’s 50-day moving average is $154.79 and its two-hundred day moving average is $139.74. GoDaddy Inc. has a 1-year low of $71.15 and a 1-year high of $167.65. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market capitalization of $22.51 billion, a price-to-earnings ratio of 13.10 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.06). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. Analysts forecast that GoDaddy Inc. will post 5.06 EPS for the current year.

Insider Buying and Selling

In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $157.61, for a total value of $63,044.00. Following the transaction, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other GoDaddy news, Director Sigal Zarmi sold 400 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $157.61, for a total transaction of $63,044.00. Following the transaction, the director now directly owns 4,661 shares in the company, valued at $734,620.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Roger Chen sold 4,000 shares of GoDaddy stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.79, for a total value of $559,160.00. Following the completion of the sale, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,744 shares of company stock valued at $4,816,386. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GDDY. Royal Bank of Canada lifted their target price on shares of GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Benchmark boosted their price objective on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Piper Sandler restated a “neutral” rating and issued a $172.00 target price (up previously from $160.00) on shares of GoDaddy in a research report on Monday. Cantor Fitzgerald reiterated a “neutral” rating and set a $170.00 price target on shares of GoDaddy in a research report on Monday. Finally, Robert W. Baird lifted their target price on shares of GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GoDaddy has an average rating of “Moderate Buy” and a consensus target price of $165.00.

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.