Parallel Advisors LLC Increases Stock Position in GoDaddy Inc. (NYSE:GDDY)

Parallel Advisors LLC increased its position in GoDaddy Inc. (NYSE:GDDY) by 12.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,236 shares of the technology company’s stock after buying an additional 256 shares during the quarter. Parallel Advisors LLC’s holdings in GoDaddy were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in GoDaddy by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,733,764 shares of the technology company’s stock valued at $1,748,603,000 after buying an additional 379,228 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of GoDaddy by 94.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,655,994 shares of the technology company’s stock valued at $433,895,000 after acquiring an additional 1,775,708 shares in the last quarter. Norges Bank purchased a new stake in GoDaddy during the 4th quarter worth $181,687,000. Federated Hermes Inc. lifted its stake in shares of GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock worth $209,743,000 after purchasing an additional 394,399 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of GoDaddy by 13.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 905,858 shares of the technology company’s stock worth $96,166,000 after buying an additional 110,076 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

Insider Transactions at GoDaddy

In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $152.17, for a total value of $152,170.00. Following the transaction, the chief operating officer now owns 187,632 shares of the company’s stock, valued at $28,551,961.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other GoDaddy news, COO Roger Chen sold 1,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $152.17, for a total value of $152,170.00. Following the sale, the chief operating officer now directly owns 187,632 shares in the company, valued at $28,551,961.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sigal Zarmi sold 400 shares of the business’s stock in a transaction on Friday, August 9th. The shares were 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 of the company’s stock, valued at approximately $734,620.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,744 shares of company stock worth $4,816,386. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GDDY has been the topic of several analyst reports. Royal Bank of Canada boosted their price target on GoDaddy from $145.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Raymond James boosted their target price on shares of GoDaddy from $150.00 to $175.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 2nd. Piper Sandler raised their price target on shares of GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. B. Riley boosted their price objective on shares of GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Robert W. Baird raised their target price on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Five 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.08.

GoDaddy Trading Up 0.2 %

Shares of NYSE GDDY opened at $154.27 on Thursday. 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 stock’s 50 day moving average price is $153.69 and its two-hundred day moving average price is $138.20. GoDaddy Inc. has a 52-week low of $71.15 and a 52-week high of $167.65. The stock has a market capitalization of $22.01 billion, a P/E ratio of 12.81 and a beta of 1.13.

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

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.