Dimensional Fund Advisors LP Buys 235,934 Shares of GoDaddy Inc. (NYSE:GDDY)

Dimensional Fund Advisors LP grew its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 37.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 861,066 shares of the technology company’s stock after acquiring an additional 235,934 shares during the period. Dimensional Fund Advisors LP owned about 0.60% of GoDaddy worth $120,305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 boosted its holdings in GoDaddy by 20.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 214,514 shares of the technology company’s stock worth $25,469,000 after buying an additional 35,703 shares during the period. Forsta AP Fonden boosted its holdings in GoDaddy by 87.5% in 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 boosted its holdings in GoDaddy by 3.5% in the 2nd quarter. Swedbank AB now owns 153,353 shares of the technology company’s stock worth $21,425,000 after buying an additional 5,247 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted 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 buying an additional 9,266 shares during the period. 90.28% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Amanpal Singh Bhutani sold 4,500 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 $629,055.00. Following the transaction, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Mark Mccaffrey sold 5,500 shares of GoDaddy stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $164.75, for a total value of $906,125.00. Following the transaction, the chief financial officer now owns 101,286 shares in the company, valued at approximately $16,686,868.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.79, for a total transaction of $629,055.00. Following the completion of the transaction, the chief executive officer now owns 365,398 shares in the company, valued at approximately $51,078,986.42. The disclosure for this sale can be found here. Insiders have sold a total of 31,744 shares of company stock worth $4,816,386 in the last 90 days. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on GDDY. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald began coverage on shares of GoDaddy in a report on Thursday, September 5th. They issued a “neutral” rating and a $170.00 price objective for the company. Citigroup raised their price objective on shares of GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Robert W. Baird raised their price target on shares of GoDaddy from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, B. Riley raised their price target on shares of GoDaddy from $143.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 12th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, GoDaddy presently has an average rating of “Moderate Buy” and a consensus price target of $164.08.

GoDaddy Stock Performance

GoDaddy stock opened at $160.55 on Monday. The firm’s fifty day moving average price is $154.36 and its 200-day moving average price is $139.11. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market cap of $22.91 billion, a P/E ratio of 13.33 and a beta of 1.13. GoDaddy Inc. has a fifty-two week low of $71.15 and a fifty-two week high of $167.65.

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