GoDaddy Inc. (NYSE:GDDY) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. grew its position in GoDaddy Inc. (NYSE:GDDY) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,958 shares of the technology company’s stock after buying an additional 1,891 shares during the quarter. Royal London Asset Management Ltd.’s holdings in GoDaddy were worth $11,834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GDDY. Natixis Advisors LLC grew its stake in shares of GoDaddy by 42.8% in the third quarter. Natixis Advisors LLC now owns 30,409 shares of the technology company’s stock valued at $4,768,000 after buying an additional 9,115 shares in the last quarter. Prospera Financial Services Inc acquired a new position in GoDaddy during the 3rd quarter worth $807,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in GoDaddy during the 3rd quarter worth $472,000. PNC Financial Services Group Inc. grew its stake in GoDaddy by 18.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 6,285 shares of the technology company’s stock worth $985,000 after purchasing an additional 986 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in GoDaddy during the 3rd quarter worth $7,166,000. 90.28% of the stock is owned by institutional investors and hedge funds.

GoDaddy Stock Down 0.1 %

GoDaddy stock opened at $180.49 on Friday. GoDaddy Inc. has a fifty-two week low of $118.39 and a fifty-two week high of $216.00. The company has a debt-to-equity ratio of 5.46, a quick ratio of 0.56 and a current ratio of 0.72. The company has a market capitalization of $25.51 billion, a P/E ratio of 27.98 and a beta of 1.25. The stock has a 50-day simple moving average of $191.37 and a 200-day simple moving average of $183.14.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. GoDaddy had a net margin of 20.49% and a return on equity of 176.06%. Equities research analysts expect that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Insider Activity at GoDaddy

In related news, CEO Amanpal Singh Bhutani sold 3,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $199.01, for a total value of $597,030.00. Following the transaction, the chief executive officer now owns 333,153 shares in the company, valued at $66,300,778.53. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark Mccaffrey sold 5,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $199.01, for a total value of $1,094,555.00. Following the completion of the transaction, the chief financial officer now owns 84,300 shares in the company, valued at $16,776,543. This trade represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,480 shares of company stock worth $3,816,029 in the last quarter. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

GDDY has been the subject of several analyst reports. UBS Group boosted their target price on GoDaddy from $172.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Wells Fargo & Company initiated coverage on GoDaddy in a research note on Monday, February 3rd. They set an “equal weight” rating and a $198.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 target price (up from $190.00) on shares of GoDaddy in a research note on Wednesday, December 4th. Citigroup lifted their price target on GoDaddy from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Piper Sandler lifted their price target on GoDaddy from $176.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $213.20.

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.