Intech Investment Management LLC Has $5.91 Million Stock Holdings in GoDaddy Inc. (NYSE:GDDY)

Intech Investment Management LLC grew its position in shares of GoDaddy Inc. (NYSE:GDDY) by 156.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,316 shares of the technology company’s stock after acquiring an additional 25,827 shares during the quarter. Intech Investment Management LLC’s holdings in GoDaddy were worth $5,912,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Whittier Trust Co. boosted its position in GoDaddy by 4.3% during the 2nd quarter. Whittier Trust Co. now owns 1,781 shares of the technology company’s stock worth $249,000 after acquiring an additional 74 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in GoDaddy by 0.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,030 shares of the technology company’s stock worth $1,427,000 after acquiring an additional 113 shares during the last quarter. Sivia Capital Partners LLC boosted its position in GoDaddy by 3.9% during the 1st quarter. Sivia Capital Partners LLC now owns 3,023 shares of the technology company’s stock worth $359,000 after acquiring an additional 113 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of GoDaddy by 102.3% during the 1st quarter. GAMMA Investing LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 133 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of GoDaddy by 6.3% during the 2nd quarter. Signaturefd LLC now owns 2,480 shares of the technology company’s stock worth $346,000 after purchasing an additional 148 shares in the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GDDY shares. Robert W. Baird upped their price objective on GoDaddy from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Cantor Fitzgerald started coverage on GoDaddy in a research note on Thursday, September 5th. They set a “neutral” rating and a $170.00 price objective on the stock. StockNews.com cut GoDaddy from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Finally, Royal Bank of Canada increased 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. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GoDaddy presently has a consensus rating of “Moderate Buy” and an average price target of $164.08.

GoDaddy Price Performance

NYSE:GDDY opened at $160.55 on Friday. GoDaddy Inc. has a 52 week low of $71.15 and a 52 week high of $167.65. The firm has a market cap of $22.91 billion, a price-to-earnings ratio of 13.33 and a beta of 1.13. The firm’s 50-day simple moving average is $154.36 and its 200 day simple moving average is $138.90. The company has a debt-to-equity ratio of 24.13, a quick ratio of 0.48 and a current ratio of 0.48.

GoDaddy (NYSE:GDDY) last released its quarterly 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). GoDaddy had a negative return on equity of 709.73% and a net margin of 41.12%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business posted $0.63 earnings per share. GoDaddy’s 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 earnings per share for the current year.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CEO Amanpal Singh Bhutani sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total value of $500,730.00. Following the transaction, the chief executive officer now directly owns 358,773 shares of the company’s stock, valued at approximately $59,882,801.43. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other GoDaddy news, COO Roger Chen sold 4,000 shares of the firm’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 transaction, the chief operating officer now directly owns 192,632 shares of the company’s stock, valued at approximately $26,928,027.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Amanpal Singh Bhutani sold 3,000 shares of GoDaddy stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $166.91, for a total transaction of $500,730.00. Following the sale, the chief executive officer now directly owns 358,773 shares in the company, valued at $59,882,801.43. The disclosure for this sale can be found here. Insiders have sold a total of 31,744 shares of company stock valued at $4,816,386 in the last ninety days. 0.61% of the stock is currently owned by company 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.