Price T Rowe Associates Inc. MD Sells 1,221,559 Shares of GoDaddy Inc. $GDDY

Price T Rowe Associates Inc. MD trimmed its position in shares of GoDaddy Inc. (NYSE:GDDY) by 32.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,587,416 shares of the technology company’s stock after selling 1,221,559 shares during the period. Price T Rowe Associates Inc. MD’s holdings in GoDaddy were worth $466,098,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GDDY. Goldman Sachs Group Inc. boosted its position in GoDaddy by 257.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,236,850 shares of the technology company’s stock valued at $402,946,000 after acquiring an additional 1,610,890 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in GoDaddy by 1,412.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,347,434 shares of the technology company’s stock valued at $242,727,000 after acquiring an additional 1,258,324 shares in the last quarter. JPMorgan Chase & Co. boosted its position in GoDaddy by 41.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,439,905 shares of the technology company’s stock valued at $439,525,000 after acquiring an additional 710,842 shares in the last quarter. Pacer Advisors Inc. boosted its position in GoDaddy by 893.4% during the 1st quarter. Pacer Advisors Inc. now owns 647,747 shares of the technology company’s stock valued at $116,685,000 after acquiring an additional 582,539 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in GoDaddy by 18,248.7% during the 1st quarter. GAMMA Investing LLC now owns 513,579 shares of the technology company’s stock valued at $92,516,000 after acquiring an additional 510,780 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $179.81, for a total value of $1,246,442.92. Following the completion of the transaction, the chief executive officer directly owned 431,015 shares in the company, valued at $77,500,807.15. The trade was a 1.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Chen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $169.59, for a total transaction of $169,590.00. Following the completion of the transaction, the chief operating officer owned 253,949 shares of the company’s stock, valued at approximately $43,067,210.91. The trade was a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,881 shares of company stock valued at $5,869,390 in the last quarter. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on GDDY shares. Wall Street Zen cut GoDaddy from a “buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Benchmark reaffirmed a “buy” rating on shares of GoDaddy in a research report on Monday, April 28th. JPMorgan Chase & Co. boosted their price target on GoDaddy from $231.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Piper Sandler set a $182.00 price target on GoDaddy and gave the stock an “overweight” rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company dropped their price target on GoDaddy from $198.00 to $157.00 and set an “equal weight” rating on the stock in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, GoDaddy has a consensus rating of “Moderate Buy” and an average target price of $202.43.

GoDaddy Stock Performance

Shares of GDDY opened at $146.9890 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 9.33. The business’s 50 day moving average price is $164.23 and its 200-day moving average price is $175.26. GoDaddy Inc. has a 52 week low of $132.51 and a 52 week high of $216.00. The stock has a market cap of $20.35 billion, a P/E ratio of 26.25, a P/E/G ratio of 1.58 and a beta of 1.08.

GoDaddy (NYSE:GDDY) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. GoDaddy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts anticipate that GoDaddy Inc. will post 6.63 earnings per share for the current fiscal year.

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.