Envestnet Asset Management Inc. Buys 11,121 Shares of GoDaddy Inc. (NYSE:GDDY)

Envestnet Asset Management Inc. raised its stake in GoDaddy Inc. (NYSE:GDDY) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 525,944 shares of the technology company’s stock after buying an additional 11,121 shares during the quarter. Envestnet Asset Management Inc. owned about 0.37% of GoDaddy worth $73,480,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of 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 purchasing an additional 379,228 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of GoDaddy by 94.4% in the first 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 purchasing an additional 1,775,708 shares during the last quarter. Norges Bank acquired a new stake in shares of GoDaddy in the fourth quarter valued at approximately $181,687,000. Federated Hermes Inc. raised its holdings in shares of GoDaddy by 35.6% in the second quarter. Federated Hermes Inc. now owns 1,501,277 shares of the technology company’s stock valued at $209,743,000 after purchasing an additional 394,399 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings 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 valued at $96,166,000 after purchasing an additional 110,076 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

Insider Activity

In other news, COO Roger Chen sold 4,000 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 value of $559,160.00. Following the completion of the sale, the chief operating officer now owns 192,632 shares of the company’s stock, valued at $26,928,027.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Sigal Zarmi sold 400 shares of the business’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 completion of the sale, the director now owns 4,661 shares of the company’s stock, valued at $734,620.21. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Roger Chen sold 4,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.79, for a total transaction of $559,160.00. Following the sale, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,744 shares of company stock valued at $4,664,216. 0.61% of the stock is owned by company insiders.

GoDaddy Trading Up 2.4 %

GDDY stock opened at $153.91 on Wednesday. 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 company has a fifty day moving average price of $153.46 and a two-hundred day moving average price of $138.09. GoDaddy Inc. has a one year low of $71.15 and a one year high of $167.65. The stock has a market cap 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 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.06). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. Equities analysts anticipate that GoDaddy Inc. will post 5.06 EPS for the current year.

Analyst Ratings Changes

GDDY has been the topic of a number of recent research reports. Raymond James lifted their price objective on shares of GoDaddy from $150.00 to $175.00 and gave the company a “strong-buy” rating in a report on Friday, August 2nd. Citigroup boosted their target price on shares of GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Cantor Fitzgerald began coverage on shares of GoDaddy in a report on Thursday, September 5th. They set a “neutral” rating and a $170.00 target price on the stock. Barclays boosted their target price on shares of GoDaddy from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Benchmark boosted their target price on shares of GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.08.

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.