Price T Rowe Associates Inc. MD Has $433.90 Million Position in GoDaddy Inc. (NYSE:GDDY)

Price T Rowe Associates Inc. MD increased its holdings in shares of GoDaddy Inc. (NYSE:GDDY) by 94.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,655,994 shares of the technology company’s stock after acquiring an additional 1,775,708 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.57% of GoDaddy worth $433,895,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Lazard Asset Management LLC grew its holdings in GoDaddy by 2.0% in the 1st quarter. Lazard Asset Management LLC now owns 330,776 shares of the technology company’s stock valued at $39,256,000 after buying an additional 6,598 shares in the last quarter. Epoch Investment Partners Inc. grew its holdings in GoDaddy by 3.1% in the 1st quarter. Epoch Investment Partners Inc. now owns 433,983 shares of the technology company’s stock valued at $51,505,000 after buying an additional 13,136 shares in the last quarter. Brant Point Investment Management LLC grew its holdings in shares of GoDaddy by 321.2% during the 1st quarter. Brant Point Investment Management LLC now owns 86,773 shares of the technology company’s stock worth $10,298,000 after purchasing an additional 66,173 shares in the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of GoDaddy during the 1st quarter worth $368,000. Finally, Delap Wealth Advisory LLC acquired a new stake in shares of GoDaddy during the 1st quarter worth $462,000. 90.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GoDaddy

In other GoDaddy news, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $72,221.07. Following the completion of the sale, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other GoDaddy news, CAO Nick Daddario sold 523 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $138.09, for a total value of $72,221.07. Following the completion of the sale, the chief accounting officer now owns 22,666 shares of the company’s stock, valued at $3,129,947.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leah Sweet sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $141.59, for a total value of $141,590.00. Following the completion of the transaction, the director now owns 11,317 shares in the company, valued at approximately $1,602,374.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,071 shares of company stock valued at $6,875,606. Company insiders own 0.61% of the company’s stock.

GoDaddy Trading Up 0.7 %

GoDaddy stock traded up $1.02 during trading hours on Monday, hitting $144.67. The stock had a trading volume of 194,354 shares, compared to its average volume of 1,618,986. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 9.15. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of 11.93 and a beta of 1.14. GoDaddy Inc. has a one year low of $69.18 and a one year high of $148.71. The business’s 50 day simple moving average is $141.15 and its 200-day simple moving average is $125.91.

GoDaddy (NYSE:GDDY) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.08. GoDaddy had a negative return on equity of 186.09% and a net margin of 40.38%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. On average, equities analysts predict that GoDaddy Inc. will post 4.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GDDY shares. JPMorgan Chase & Co. increased their target price on GoDaddy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Evercore ISI increased their target price on GoDaddy from $110.00 to $135.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Citigroup upped their price objective on GoDaddy from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Morgan Stanley upped their price objective on GoDaddy from $132.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, William Blair restated an “outperform” rating on shares of GoDaddy in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $152.25.

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.