DekaBank Deutsche Girozentrale Purchases 11,368 Shares of GoDaddy Inc. (NYSE:GDDY)

DekaBank Deutsche Girozentrale raised its position in GoDaddy Inc. (NYSE:GDDY) by 31.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,022 shares of the technology company’s stock after purchasing an additional 11,368 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in GoDaddy were worth $6,652,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GDDY. V Square Quantitative Management LLC acquired a new stake in GoDaddy in the fourth quarter valued at $28,000. Transcendent Capital Group LLC acquired a new stake in shares of GoDaddy in the second quarter valued at about $28,000. GAMMA Investing LLC raised its position in shares of GoDaddy by 102.3% during the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 133 shares during the last quarter. ORG Partners LLC acquired a new position in shares of GoDaddy in the second quarter worth approximately $32,000. Finally, Frazier Financial Advisors LLC bought a new stake in GoDaddy in the fourth quarter valued at approximately $33,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Price Performance

Shares of NYSE:GDDY opened at $153.91 on Wednesday. GoDaddy Inc. has a twelve month low of $71.15 and a twelve month high of $167.65. The stock’s 50 day moving average is $153.46 and its 200-day moving average is $138.09. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. The firm has a market capitalization of $21.96 billion, a price-to-earnings ratio of 12.78 and a beta of 1.13.

GoDaddy (NYSE:GDDY) last released 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 for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts forecast that GoDaddy Inc. will post 5.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on GDDY. StockNews.com lowered shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald started coverage on shares of GoDaddy in a report on Thursday, September 5th. They issued a “neutral” rating and a $170.00 target price on the stock. Robert W. Baird increased their price target on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on GoDaddy from $136.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. Finally, Citigroup raised their target price on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.08.

Insider Buying and Selling

In other GoDaddy news, CAO Nick Daddario sold 2,976 shares of GoDaddy stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $151.61, for a total transaction of $451,191.36. Following the completion of the transaction, the chief accounting officer now owns 14,728 shares in the company, valued at approximately $2,232,912.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Nick Daddario sold 2,976 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $151.61, for a total value of $451,191.36. Following the completion of the sale, the chief accounting officer now directly owns 14,728 shares of the company’s stock, valued at approximately $2,232,912.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $164.75, for a total transaction of $906,125.00. Following the transaction, the chief financial officer now directly owns 101,286 shares in the company, valued at $16,686,868.50. The disclosure for this sale can be found here. Insiders have sold 30,744 shares of company stock worth $4,664,216 in the last quarter. Insiders own 0.61% of the company’s stock.

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.