GoDaddy Inc. (NYSE:GDDY) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its position in GoDaddy Inc. (NYSE:GDDY) by 20.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,661 shares of the technology company’s stock after purchasing an additional 6,313 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in GoDaddy were worth $5,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GDDY. V Square Quantitative Management LLC purchased a new position in shares of GoDaddy during the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new position in GoDaddy in the second quarter valued at $28,000. GAMMA Investing LLC increased its stake in GoDaddy by 102.3% in the first quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the last quarter. ORG Partners LLC purchased a new position in GoDaddy during the second quarter worth about $32,000. Finally, International Assets Investment Management LLC acquired a new stake in GoDaddy in the 2nd quarter worth about $36,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

GoDaddy Price Performance

Shares of NYSE GDDY opened at $160.55 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 24.13. GoDaddy Inc. has a fifty-two week low of $71.15 and a fifty-two week high of $167.65. The business has a 50 day moving average price of $154.36 and a two-hundred day moving average price of $138.90. The firm has a market cap of $22.91 billion, a PE ratio of 13.33 and a beta of 1.13.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com downgraded shares of GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Barclays boosted their price target on GoDaddy from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. B. Riley raised their price objective on GoDaddy from $143.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Benchmark boosted their target price on GoDaddy from $170.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, Raymond James raised their price target 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. Five investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.08.

Insider Transactions at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 4,500 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $139.79, for a total value of $629,055.00. Following the completion of the sale, the chief executive officer now directly owns 365,398 shares of the company’s stock, valued at $51,078,986.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other GoDaddy 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 completion of the transaction, the chief executive officer now owns 365,398 shares of the company’s stock, valued at $51,078,986.42. The transaction was disclosed in a filing 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 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 in the company, valued at $26,928,027.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,744 shares of company stock valued at $4,816,386. Insiders own 0.61% of the company’s stock.

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.