Prudential Financial Inc. Has $14.79 Million Position in GoDaddy Inc. $GDDY

Prudential Financial Inc. increased its stake in shares of GoDaddy Inc. (NYSE:GDDY) by 4.4% in the second quarter, Holdings Channel.com reports. The firm owned 82,153 shares of the technology company’s stock after buying an additional 3,496 shares during the quarter. Prudential Financial Inc.’s holdings in GoDaddy were worth $14,792,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new stake in shares of GoDaddy during the second quarter worth $26,000. NewSquare Capital LLC boosted its holdings in shares of GoDaddy by 170.9% during the 2nd quarter. NewSquare Capital LLC now owns 149 shares of the technology company’s stock valued at $27,000 after acquiring an additional 94 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in GoDaddy during the 1st quarter worth $30,000. Banque Transatlantique SA acquired a new position in GoDaddy in the 1st quarter worth about $36,000. Finally, Steph & Co. bought a new position in GoDaddy in the second quarter valued at about $55,000. Institutional investors own 90.28% of the company’s stock.

GoDaddy Stock Up 0.6%

Shares of NYSE GDDY opened at $127.13 on Thursday. The company’s 50 day moving average price is $133.01 and its 200-day moving average price is $154.31. The company has a debt-to-equity ratio of 9.33, a quick ratio of 0.64 and a current ratio of 0.64. GoDaddy Inc. has a 52-week low of $121.94 and a 52-week high of $216.00. The company has a market capitalization of $17.18 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96.

GoDaddy (NYSE:GDDY) last released its earnings results on Thursday, October 30th. The technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. GoDaddy had a net margin of 17.01% and a return on equity of 189.42%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the business earned $1.32 earnings per share. GoDaddy’s revenue for the quarter was up 10.3% on a year-over-year basis. GoDaddy has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities analysts forecast that GoDaddy Inc. will post 6.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GDDY. Wells Fargo & Company reduced their price target on GoDaddy from $157.00 to $145.00 and set an “equal weight” rating on the stock in a report on Monday, October 6th. Piper Sandler set a $182.00 target price on shares of GoDaddy and gave the stock an “overweight” rating in a report on Friday, August 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $150.00 price target on shares of GoDaddy in a research report on Friday, October 31st. Morgan Stanley set a $159.00 price target on shares of GoDaddy in a report on Friday, October 31st. Finally, Benchmark reduced their price objective on shares of GoDaddy from $250.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $181.14.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 6,950 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $142.21, for a total transaction of $988,359.50. Following the transaction, the chief executive officer directly owned 412,065 shares of the company’s stock, valued at $58,599,763.65. This represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Sharples sold 500 shares of GoDaddy stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $133.11, for a total transaction of $66,555.00. Following the completion of the sale, the director directly owned 19,957 shares of the company’s stock, valued at approximately $2,656,476.27. This trade represents a 2.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 19,553 shares of company stock worth $2,825,527. Company insiders own 0.70% of the company’s stock.

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.