1,488 Shares in GoDaddy Inc. (NYSE:GDDY) Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI acquired a new position in shares of GoDaddy Inc. (NYSE:GDDY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,488 shares of the technology company’s stock, valued at approximately $208,000.

Several other large investors have also made changes to their positions in GDDY. Price T Rowe Associates Inc. MD lifted its position 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 worth $433,895,000 after purchasing an additional 1,775,708 shares during the last quarter. Norges Bank bought a new position in GoDaddy during the fourth quarter valued at about $181,687,000. Kodai Capital Management LP bought a new position in GoDaddy during the first quarter valued at about $75,855,000. Bank of Nova Scotia increased its stake in GoDaddy by 3,411.0% during the fourth quarter. Bank of Nova Scotia now owns 438,002 shares of the technology company’s stock valued at $46,497,000 after acquiring an additional 425,527 shares during the period. Finally, Federated Hermes Inc. increased its stake in GoDaddy by 35.6% during the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after acquiring an additional 394,399 shares during the period. Institutional investors and hedge funds own 90.28% of the company’s stock.

GoDaddy Stock Up 3.8 %

Shares of GDDY opened at $160.18 on Friday. The company has a market capitalization of $22.86 billion, a P/E ratio of 13.30 and a beta of 1.13. The company has a debt-to-equity ratio of 24.13, a current ratio of 0.48 and a quick ratio of 0.48. GoDaddy Inc. has a one year low of $71.15 and a one year high of $167.65. The business’s 50 day simple moving average is $154.05 and its 200-day simple moving average is $138.35.

GoDaddy (NYSE:GDDY) last posted its quarterly earnings data 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). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company posted $0.63 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that GoDaddy Inc. will post 5.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com lowered GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada boosted their price target on GoDaddy from $145.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Piper Sandler boosted their price target on GoDaddy from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Robert W. Baird upped their price objective on GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Raymond James upped their price objective on GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GoDaddy currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.08.

Insiders Place Their Bets

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 owns 4,661 shares of the company’s stock, valued at approximately $734,620.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Sigal Zarmi sold 400 shares of the stock in a transaction on Friday, August 9th. The stock was 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 approximately $734,620.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Roger Chen sold 4,000 shares of the 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 transaction, the chief operating officer now directly owns 192,632 shares in the company, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,744 shares of company stock valued at $4,816,386. 0.61% of the stock is currently owned by corporate insiders.

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.